ECONOMICS (CBSE/UGC NET)

ECONOMICS

SAVING AND INVESTING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
If you work for $9.00 an hour, you earn a/an
A
Wage
B
Salary
C
Minimum Wage
D
Not enough
Explanation: 

Detailed explanation-1: -If you earn an hourly wage of $9.00 an hour and work for an average of 40 hours a week for 50 weeks a year, you’ll earn a yearly salary of $18, 000.

Detailed explanation-2: -If you make $9 per hour, your Yearly salary would be $18, 720.

Detailed explanation-3: -$9 hourly is how much per week? If you make $9 per hour, your Weekly salary would be $333. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 37.5 hours a week. How much tax do I pay if I make $9 per hour?

Detailed explanation-4: -$9 per hour is $18, 720 a year. This number is based on 40 hours of work per week and assuming it’s a full-time job (8 hours per day) with vacation time paid. If you get paid bi-weekly (once every two weeks) your gross paycheck will be $720.

Detailed explanation-5: -First, determine the total number of hours worked by multiplying the hours per week by the number of weeks in a year (52). Next, divide this number from the annual salary. For example, if an employee has a salary of $50, 000 and works 40 hours per week, the hourly rate is $50, 000/2, 080 (40 x 52) = $24.04.

There is 1 question to complete.