Though She Graduated from High School,Jenny Does Not Possess the Skills

question 61

Multiple Choice

Though she graduated from high school,Jenny does not possess the skills necessary to balance her checkbook or make change for a customer without the aid of a cash register.Jenny is:

• A) undereducated.
• B) unschooled.
• C) innumerate.
• D) functionally illiterate.

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Definitions:

Wage-Base Limitation

A wage-base limitation refers to the maximum amount of earnings that is taxed for certain social services, such as Social Security, beyond which earnings are no longer subject to the tax.

Regressive

A term typically used to describe a tax system where the tax rate decreases as the taxable amount increases, placing a heavier burden on lower-income individuals.

Wages and Salary

Compensation received by employees for their labor, typically paid as hourly wages or annual salaries.

Taxed

Taxed refers to the imposition of financial charges or other levies upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.