Which of the following statements about payroll taxes is false?
A. They include Medicare taxes.
B. Both employers and employees pay these taxes.
C. They provide funds for Social Security.
D. They are lump-sum taxes not based on wages/salaries.
Answer: D
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Assume the demand and supply functions for good X can be written as Qd = 1000 - 40Px Qs = -200 + 20Px In this example, equilibrium price is $20 and the equilibrium quantity is 200
Indicate whether the statement is true or false
If the inflation rate is decreasing while unemployment is decreasing: a. the short-run Phillips curve must have shifted right
b. the short-run Phillips curve must have shifted left. c. it involved a movement along the short-run Phillips curve. d. it would be inconsistent with any possible Phillips curve scenario.
To test whether the overall regression equation is statistically significant one uses
A. the standard error statistic. B. the F-statistic. C. the t-statistic. D. the R2-statistic.
For measuring a nation's standard of living, of the following, the best available common measure is:
A) nominal GDP. B) market GDP. C) real GDP per capita. D) nominal GDP per capita.