The primary economic cost of the Social Security program is the financial cost of administering the program.
Answer the following statement true (T) or false (F)
False
The primary economic cost of the Social Security program is the loss in total output that occurs due to the burden imposed by payroll and marginal taxes on workers and retirees.
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If an economy experiences a $0.8 trillion increase in investment resulting in an increase in real GDP from $10 trillion to $12 trillion,
a. what is the change in equilibrium expenditure? b. what is the change in autonomous expenditure? c. what is the multiplier? d. how would an increase in the marginal tax rate effect the multiplier?
If the "Marginal Congestion Cost" for a public good is constant then the optimal number of users is infinite
a. True b. False
Holding demand constant, a reduction in supply leads to
A) lower prices and higher quantity demanded. B) lower prices and lower quantity demanded. C) higher prices and higher quantity demanded. D) higher prices and lower quantity demanded.
The goal of a union may be to maximize the
a. number of union members. b. income received by workers in the relevant industry. c. number of workers employed in the relevant industry. d. All of the above are correct.