Question

1. what are amounts subtracted from gross pay, such as taxes and retirement contributions, called? a) interest b) deductions c) capital d) asset 17. what is a legal contract outlining the terms of renting a property called? a) lease agreement b) credit report c) pension d) hedge fund 18. the study of how psychological factors influence economic decisions and behaviors is known as: a) behavioral economics b) comparison shopping c) dark patterns d) deficit 19. the practice of evaluating different options to find the best deal or quality before making a purchase is: a) comparison shopping b) identity theft c) net pay d) target date fund 20. an individual who starts and operates their own business, often assuming financial risks, is referred to as a: a) target date fund b) entrepreneur c) cosigner d) irs 21. what term refers to the amount of money originally borrowed, excluding interest and fees? a) principal b) asset c) net pay d) surplus 22. what does irs stand for, and what is its role? a) internal revenue service; handles tax collection and enforcement b) international revenue system; manages international funds c) internal research service; conducts market research d) interest rate service; provides loan interest rates 23. what is a type of investment that pools money from many investors to buy a diversified portfolio of stocks and bonds? a) mutual fund b) hedge fund c) target date fund d) pension 24. regular payments made to retirees based on their past earnings and years of service are known as: a) pension b) mutual fund c) surplus d) principal

Explanation:

1. Deductions are amounts subtracted from gross pay like taxes and retirement contributions.
2. A lease - agreement is a legal contract outlining property - renting terms.
3. Behavioral economics studies how psychological factors influence economic decisions.
4. Comparison shopping is evaluating options to find the best deal before purchase.
5. An entrepreneur starts and operates a business, often taking financial risks.
6. The principal is the amount of money originally borrowed, excluding interest and fees.
7. IRS stands for Internal Revenue Service and handles tax collection and enforcement.
8. A mutual fund pools money from investors to buy a diversified portfolio of stocks and bonds.
9. Pensions are regular payments made to retirees based on past earnings and years of service.

Answer:

1. b) Deductions
2. a) Lease Agreement
3. a) Behavioral Economics
4. a) Comparison Shopping
5. b) Entrepreneur
6. a) Principal
7. a) Internal Revenue Service; handles tax collection and enforcement
8. a) Mutual Fund
9. a) Pension