A payroll tax is a tax on
a. the wages that a firm pays its workers.
b. earned and unearned income.
c. specific goods like gasoline and cigarettes.
d. corporate profits.
a
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To decrease bank reserves, the Fed can
A) engage in an open market sale. B) reduce reserve requirements. C) lower the discount rate. D) set a lower interest rate for term deposits.
Generally speaking, the smaller the percentage of one's total budget devoted to a particular product, the more price elastic will be the demand for that product.
a. true b. false
________ is generated from taxing profits earned by firms
A) Excise tax B) Sales tax C) Corporate income tax D) Payroll tax
Fixed costs are:
A. costs that depend on the quantity of output produced. B. costs that don't depend on the quantity of output produced. C. inputs costs that stay the same price per unit. D. costs that are negotiated to stay the same throughout the life of a contract.