In Your Classes This Term You Have Been Learning About

question 21

Short Answer

In your classes this term you have been learning about the economic and political interdependence of countries, particularly how some nations exploit other nations. You have been learning about ________.

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Definitions:

Federal Income Taxes

Taxes levied by the federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.

Payroll Taxes

Taxes imposed on employers or employees, usually calculated as a percentage of the salaries that employers pay their staff.

Net Pay

The amount paid the employee, calculated as gross pay less payroll deductions.

FICA Taxes

Taxes imposed on both employers and employees to fund Social Security and Medicare.