Social Security taxes are
A) progressive because all workers pay the tax.
B) regressive because higher income workers pay taxes on a smaller percentage of their income.
C) proportional because everyone is charged the same percentage tax rate.
D) regressive because higher income workers don't pay the tax.
Answer: B
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Suppose that a product benefits from a successful advertising campaign. The result is that
A) the supply of the product decreases. B) the supply of the product increases. C) the demand for the product increases. D) the demand for the product decreases.
Evidence suggests that, following some exogenous shock, exchange rates change
A) before prices change. B) after prices change. C) at the same time prices change. D) None of the above.
An industry where the capital-labor ratio is relatively high is characterized as
A. capital intensive. B. labor intensive. C. income intensive. D. market intensive.
Explain why a monopolist has no supply curve
What will be an ideal response?