IDs and Paired-Concept Questions

question 5

Short Answer

IDs and Paired-Concept Questions
These terms can be used individually as short-answer identification questions, or they can be used in pairs. In the latter case, ask students to explain (1) the meaning and significance of each of the two terms and (2) the relationship between them.
-National poverty line,global poverty line

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Definitions:

FICA-Medicare

Part of the U.S. payroll tax that goes towards Medicare, providing health insurance for individuals over 65 and for certain younger people with disabilities.

Withheld

Refers to a portion of an employee's wages not paid directly to them but retained by the employer for income tax or other purposes.

Matched By Employer

Typically refers to contributions to retirement plans or other benefits that an employer makes, matching the employee’s contribution to a certain percentage.

Quick Ratio

A measure of a company's ability to meet its short-term obligations using its most liquid assets, excluding inventory.