The Social Security tax is
A. direct and progressive.
B. direct and regressive.
C. indirect and progressive.
D. indirect and regressive.
B. direct and regressive.
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Refer to the table above. Assuming that the market consists of only these three sellers, what is the market supply when the price is $1?
A) 2 units B) 6 units C) 11 units D) 19 units
Adverse selection is a situation in which one party to an economic transaction has less information than the other party
Indicate whether the statement is true or false
As a result of the 2007-2009 recession:
A. declining imports created a trade surplus for the United States. B. the U.S. trade deficit grew significantly. C. declining imports reduced the size of the U.S. trade deficit. D. roughly equivalent declines in both exports and imports left the U.S. trade balance unchanged.
Which of the following is a feature of a perfectly competitive market?
A) There is only one seller of a commodity. B) The government rations commodities. C) Commodities are auctioned to the highest bidder. D) Each seller is too small to influence the market price.