A tax is imposed on employers and workers that are used to fund Social Security and Medicare. This tax is sometimes referred to as
A) the ACIF.
B) the Income Security Tax.
C) the federal income tax.
D) the payroll tax.
D
Economics
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Choose which statement is most correct
A) Real GDP can never exceed potential GDP. B) Real GDP must always equal potential GDP. C) At times, real GDP can exceed potential GDP. D) Nominal GDP can never exceed potential GDP. E) Nominal GDP must always equal potential GDP.
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A price above equilibrium always yields a surplus
a. True b. False Indicate whether the statement is true or false
Economics
Explain why a change in income tax rates causes the consumption schedule to change slope
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An inefficient provider will have difficulty competing with efficient rivals.
a. true b. false
Economics