7. __ Who pays into Social Security? a) Employees b) Self-employed c) Employers d) All of the above 8 __ Federal, Social Security, and Medicare are all types of taxes. a) True b) False 9. __ The total amount of earnings made over a one-year period after all deductions have been taken is known as a) Gross annual income b) Gross monthly income c) Net annual income d) Net monthly income 10 __ The total amount of earnings made over a month, before any deductions is known as a) Gross annual income b) Gross monthly income c) Net annual income d) Net monthly income

## Step1<br />For question 7, we need to identify who pays into Social Security. Social Security is a federal insurance program that provides benefits to retired people, disabled people, and their dependents. The program is funded by payroll taxes, which are paid by employees, employers, and self-employed individuals. Therefore, all of the options provided (employees, self-employed, employers) are correct.<br /><br />## Step2<br />For question 8, we need to determine whether Federal, Social Security, and Medicare are all types of taxes. This is true. Federal taxes are levied by the federal government, Social Security taxes fund the Social Security program, and Medicare taxes fund the Medicare program.<br /><br />## Step3<br />For question 9, we need to identify the term for the total amount of earnings made over a one-year period after all deductions have been taken. This is known as the gross annual income.<br /><br />## Step4<br />For question 10, we need to identify the term for the total amount of earnings made over a month, before any deductions. This is known as the gross monthly income.