In 2012, a Full-Time Worker Earning the Federal Minimum Wage

question 16

Multiple Choice

In 2012, a full-time worker earning the federal minimum wage of $7.25 per hour, and who was married with one child, was

• A) earning a middle-class income.
• B) living below the poverty line.
• C) twice as likely to go back to school as someone earning $2.15 more.
• D) likely to have a good benefits package, with health care and retirement.

---

Definitions:

Missing Amount

A term referring to unaccounted funds or discrepancies found in financial records during a reconciliation or audit process.

Accounting Records

Documentation and books that hold financial information and transactions of a business, essential for preparing financial statements.

Computer Equipment

The physical hardware used in or with computers, including peripherals such as keyboards, monitors, external drives, and other devices.

Initial Investment

The initial amount of money spent to start a project, acquire an asset, or invest in a financial product.