The money that pays Social Security benefits is raised by
A. taxes that workers pay but not taxes employers pay.
B. taxes that employers pay but not taxes that workers pay.
C. taxes that both workers and employers pay.
D. the personal income tax.
C. taxes that both workers and employers pay.
You might also like to view...
Temporary tax cuts tend to stimulate consumer spending at the same rate as permanent tax cuts
Indicate whether the statement is true or false
Suppose the price of a can was $5.14. In this case, to maximize its profit, the firm illustrated in the figure above would
A) increase its production and would make an economic profit. B) not change its production and would make a normal profit. C) not change its production and would make an economic profit. D) increase its production and would incur an economic loss. E) not change its production and would incur an economic loss.
Tax distortions refer to the cost of inflation that comes from:
A. the money, time, and opportunity used to change prices to keep pace with inflation. B. the time, money, and effort one has to spend managing cash in the face of inflation. C. being penalized via taxes for making more money in dollars, even though real purchasing power hasn't changed at all. D. labor costs associated with inflation.
Under a gold standard,
a. with a balance of payments deficit, interest rates would fall and attract foreign capital. b. a deficit in the balance of payments increased a nation's money supply automatically. c. all currencies were defined in terms of gold. d. when a nation had a deficit in its balance of payments, more gold was flowing in than was flowing out. e. All of the above are correct.