The Social Security system is financed by

A. a payroll tax paid only by employers.
B. a tax on individual retirement accounts.
C. a tax on luxury goods.
D. a payroll tax paid by both employers and employees.


Answer: D

Economics

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The figure above shows the U.S. demand and U.S. supply curves for cherries. At a world price of $2 per pound, the total imports of cherries to the United States from other nations equals

A) 200,000 pounds. B) 400,000 pounds. C) 600,000 pounds. D) 800,000 pounds. E) 0 pounds.

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In the above table, if the market is perfectly competitive and unregulated, at the equilibrium level of output, the marginal social benefit per unit is

A) zero. B) $20 per unit. C) $50 per unit. D) $70 per unit.

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The tradeoffs faced by a society can be illustrated in a graph known as the:

a. production operations curve. b. production cost curve. c. production cost model. d. production cost forecast curve. e. production possibilities curve.

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Which of the following goods is likely to have the least elastic demand over the relevant range of prices?

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Economics