Social Security tax is deducted from your paycheck. In the figure above, this will be shown as
A) taxes flowing from households to firms.
B) taxes flowing from households to governments.
C) wages flowing from firms to governments.
D) wages flowing from firms to households.
E) taxes flowing from firms to governments.
B
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Commodity money has intrinsic value
Indicate whether the statement is true or false
Consumer surplus is the:
A) difference between the buyer's reservation value and the price he actually pays. B) product of a buyer's reservation value and the price he actually pays. C) sum of a buyer's reservation value and the price he actually pays. D) ratio of a buyer's reservation value to the price he actually pays.
When the economy enters a prosperity phase, personal income tax collections
a. fall along with consumption and real GDP b. rise along with real GDP but unemployment insurance payments to workers fall c. rise but real GDP and unemployment insurance payments to workers fall d. fall along with real GDP but unemployment insurance payments to workers rise e. fall causing real incomes and employment to fall
The sign on a church in your neighborhood reads "All are welcome at Sunday Service.". Because the church has limited seating and is usually full, the Sunday Service is
a. a private good. b. a public good. c. a club good. d. a common resource.