For all employee earnings subject to Social Security taxes, what is the current Social Security tax rate for employers?
A) 0.8%
B) 2.9%
C) 4.2%
D) 6.2%
D
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As the price of a computer falls, overall
a. the marginal utility of computers rises b. the total utility of computers falls c. the total utility per dollar spent on computers falls d. individuals would purchase fewer computers in equilibrium e. individuals would purchase more computers in equilibrium
A market failure occurs when
a. a market equilibrium is economically inefficient b. a market equilibrium is economically efficient c. perfect competition maximizes the sum of consumer and producer surplus d. crime is not completely eliminated e. involuntary exchanges are not completely eliminated
A consumer will consume the combination of goods at the point of tangency between the budget line and the indifference curve
a. True b. False Indicate whether the statement is true or false
When the Art Institute of Chicago purchases a painting by Mary Cassatt that she produced in Paris in 1885, this would not be included in the U.S. GDP for 2015
a. True b. False Indicate whether the statement is true or false