Economics/ Finance Question

Question 1 (2 points) Using the taxable income table in the slides, how much in taxes would a single person earning $30,000 per year be paying in federal income tax? A) $3000. B) $3406. C) $3600. OD) $7438 Question 2 (2 points) Which of the following is not a step in the budget process? A) Decide on your spending goals. B) Invest in the stock market. C) Estimate your expenses. D) Estimate your income. Question 3 (2 points) Which decision is likely to save the least amount of money? A) Choosing to go on a 2-night vacation to the mountains in north Georgia instead of a 2-week vacation in Europe. B) Spending 10% less buying a home. C) Choosing to eat out every other week instead of weekly. D) Not ordering a drink during the one time each month you eat out. Question 4 (2 points) Which of the following financial strategies will help you increase your wealth and future level of income? OA) regularly saving and investing a portion of your income B) paying off the outstanding balance every month, if you use a credit card C) getting by with a used economy car rather than buying a new one every couple of years D) All of the above will help you build wealth