The federal government uses the revenue from the FICA (Federal Insurance Contribution Act) tax to pay for
a. unemployment compensation.
b. the salaries of members of Congress.
c. Social Security and Medicare.
d. housing subsidies for low-income people.
c
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If the absolute value of the slope of the demand curve is 0.25, price is $8 per unit, and quantity demanded is 12 units, then demand for this good is:
A. elastic. B. inelastic. C. perfectly elastic. D. unit elastic.
If net exports increases, but neither government expenditure nor net taxes change, saving must increase
Indicate whether the statement is true or false
Leontief reconciled his results by arguing that
A) American labor is more efficient than foreign. B) American capital is more efficient than foreign. C) Foreign capital is more efficient than American. D) Foreign labor is more efficient than American.
Unemployment data in the U.S. are published by the:
a. Bureau of Economic Analysis. b. Bureau of Labor Statistics. c. Department of Commerce. d. Bureau of Federal Intelligence. e. Internal Revenue Service.