| A | B |
|---|
| capital resources | savings, investments |
| compound interest | paying/earning interest on interest |
| deductions | taxes and other payments withheld from gross pay |
| FICA | US payroll tax |
| gross income | total income earned before taxes and deductions |
| human capital | quality and quantity of skills, education, and talents |
| human resources | people who work in the economy |
| incentive | motivation to save money |
| income tax | tax on income earned |
| income | wages or salary |
| interest rate | annual interest payment |
| interest | payment for the use of money |
| medicaid | health and hospitalization benefits to low-income |
| medicare | health insurance for aged and disabled |
| net income | take-home pay |
| opportunity cost | cost we pay when we give up something to get something else |
| progressive tax | pay-as-you-earn tax |
| savings | income not spent |
| Social Security tax | benefits to retired and disabled workers |
| taxes | payments to government for services offered |
| wages | income earned for work |
| budgets | an estimate of expected income and expenses |
| simple interest | interest earned on principal |
| interest formula | P x R x T |
