Net Pay Equals

question 117

Multiple Choice

Net pay equals:

• A)gross pay less all deductions.
• B)regular earnings + overtime earnings.
• C)gross earnings.
• D)net earnings + overtime earnings greater than the amount withheld from the employee.

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Definitions:

Commodity Money

Money whose value comes from a commodity of which it is made, such as gold and silver, used historically as a medium of exchange.

Unit Of Account

A standard numerical monetary unit of measurement that provides a consistent way of quoting prices and conducting economic transactions.

M1

A category of the money supply that includes physical currency and coin, demand deposits, traveler's checks, and other checkable deposits.

Savings Deposits

accounts held at financial institutions that allow deposits and withdrawals and are subject to modest interest rates.