The tax on Social Security is statutorily paid _____
a. by individuals
b. by employers
c. two-thirds by individuals and one-third by employers
d. half by individuals and half by employers
d
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
According to the real business cycle theory, what is the principal cause of business cycle fluctuations?
What will be an ideal response?
Which of the following is true? a. The tax multiplier is smaller than the government spending multiplier
b. The government cannot stimulate consumer spending through tax cuts. c. The government spending multiplier is smaller than the tax multiplier. d. The government can stimulate consumer spending through decreases in transfer payments.
The Federal Reserve's principal tool in the manipulation of aggregate demand is the personal income tax
a. True b. False Indicate whether the statement is true or false