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Williams Consumer Ed

Chapter 8 Study Guide

TermDefinition
W2 shows the total earnings for the year from a specific employer
Salary money earned by an employee per year or other fixed length of time
Gross pay the total amount of money earned for working during the pay period
Net pay the amount of pay an employee is left with after taxes and other deductions are subtracted
Minimum wage the lowest hourly rate that an employer may legally pay most workers
35 hours Amount of hours full time employees work a week
Wages Money earned by an employee that is paid by the hour, day, or item.
Created by: ebonyw411
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