Congress intended that
a. the entire FICA tax be paid by workers.
b. the entire FICA tax be paid by firms.
c. one-quarter of the FICA tax be paid by workers, and three-quarters be paid by firms.
d. half the FICA tax be paid by workers, and half be paid by firms.
d
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Refer to Figure 10.3. A positive demand shock accompanied by a decrease in the real interest rate is best represented by ________ in panel (a) and ________ in panel (b)
A) a shift from AE2 to AE3; a movement from point B to point C B) a shift from AE3 to AE2; a shift from IS2 to IS1 C) a shift from AE1 to AE2; a movement from point A to point B D) a shift from AE1 to AE3; a movement from point A to point C
The Coase Theorem states that there is different ways to assign property rights if the private sector is to achieve environmental efficiency
a. True b. False Indicate whether the statement is true or false
The dominant school of thought prior to the 1930s was known as the:
a. Keynesian school. b. classical school. c. rational expectations school. d. supply-side school. e. monetarist school.
Which of the following is the best definition of economics?
a. Economics is the study of how humans make decisions in the face of scarcity. b. Economics is the study of the division and specialization of labor. c. Economics is the study of the production of goods and services. d. Economics is the study of markets.