Special taxes levied on earnings for Social Security and Medicare are called
A) an unfair tax on low-income families. B) an exception tax for corporations.
C) a social insurance tax. D) a withholding tax on wages.
C
You might also like to view...
In the above figure, if the minimum wage is set at $2 per hour, what quantity of labor is employed?
A) 100 million hours B) 200 million hours C) 300 million hours D) 400 million hours
Firms that emit toxins into the air tend to
a. underproduce because the private cost of production exceeds the social cost b. overproduce because the social cost of production exceeds the private cost c. produce the same as nonpolluting firms d. produce at the socially optimal amount e. cover pollution costs in the product's price
The more elastic the demand for a good,
a. the more of an excise tax is that is collected by sellers b. the more of an excise tax that is paid by buyers c. the more an excise that is paid by sellers d. the more elastic the supply of that good e. the smaller the burden of a tax on that good
Suppose a perfectly competitive firm is currently selling 200 units at $5 per unit and has a marginal cost of $2. The firm can maximize profit by
a. decreasing output b. increasing price c. increasing output d. decreasing price