Which statement is true?
A. The Social Security tax is progressive.
B. An excise tax on cigarettes is regressive.
C. A sales tax is a direct tax.
D. None of these statements are true.
B. An excise tax on cigarettes is regressive.
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Negative externalities arising from the production of a good
A. cause an increase in the demand for the good. B. cause a decrease in the demand for the good. C. impose costs on third parties. D. bring private costs into equality with social costs.
Economic consequences of Tea Act (1773) included a/an __________ in the price of tea in the colonies and a/an ___________ in the revenues of colonial tea wholesalers
a. increase; increase b. increase; decrease c. decrease; increase d. decrease; decrease
Rich lost his job six months ago because of budget cuts at the county landfill where he worked. He tried finding another job, but has not actively searched for work for three months. Rich would be considered by the Bureau of Labor Statistics to be
a. frictionally unemployed and would be counted in the official unemployment rate b. seasonally unemployed and would be counted in the official unemployment rate c. structurally unemployed and would be counted in the official unemployment rate d. cyclically unemployed and would be counted in the official unemployment rate e. a discouraged worker
The Social Security Fund is designed as
A) a pay-as-you-go system. B) an investment portfolio that individual contributors can make periodic payments into. C) an account that allows periodic withdrawals by contributors. D) an individual account with a federal reserve bank.