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Economics

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According to projections for 2016 by the Tax Policy Center, the 20 percent of U.S. taxpayers who make the highest incomes

A) pay about 92 percent of federal income taxes but only about 20 percent of Social Security and Medicare payroll taxes. B) pay more in excise and other taxes than they pay in Social Security and Medicare payroll taxes. C) pay almost 69 percent of federal income taxes. D) use loopholes and tax exemptions to reduce their share of federal income taxes to less than 20 percent.

Economics

Which of the following would likely occur if a larger number of highly skilled workers were allowed to immigrate to the U.S.?

a. The average wage for highly skilled workers would decline. b. The average wage for highly skilled workers would increase. c. The supply curve for highly skilled workers would shift to the left. d. The demand curve for highly skilled workers would flatten out.

Economics

Witness the 1970s. Supply shocks such as the dramatic oil price increase explain

a. the fall in unemployment that occurred at the expense of stable prices b. the shift to the right of the aggregate demand curve c. what caused price levels and real GDP to increase d. why stagnation occurred e. why taxes, government spending, private consumption and investment increased

Economics

If the supply curve shifts to the right, how does this affect the market for product A?

a) A higher equilibrium price and a higher equilibrium quantity. b) A lower equilibrium price and a lower equilibrium quantity. c) A higher equilibrium price and a lower equilibrium quantity. d) A lower equilibrium price and a higher equilibrium quantity.

Economics