FICA is an example of a payroll tax, which is a tax on the wages that firms pay their workers
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following did not contribute to the severity of the Great Depression?
a. a sharp reduction in the money supply during the early 1930s b. a large tax increase (to balance the budget) in the early 1930s c. substantial increases in the tariff rates on imported goods d. a reduction in government expenditures and a substantial cut in personal income tax rates during 1932 and again in 1936
Give some arguments for and against a balanced budget requirement.
What will be an ideal response?
Phase of the business cycle during which the economy is growing more slowly than usual
What will be an ideal response?
A private good:
A. is a good for which consumption involves perfect rivalry. B. is completely nonexcludable. C. is often provided by the government. D. imposes a negative externality when it is consumed by any one individual.