Although lawmakers legislated a fifty-fifty division of the payment of the FICA tax,
a. the actual tax incidence is unaffected by the legislated tax incidence.
b. the employer now is required by law to pay more than 50 percent of the tax.
c. the employee now is required by law to pay more than 50 percent of the tax.
d. employers are no longer required by law to pay any portion of the tax.
a
You might also like to view...
Give an example where individuals "vote with their feet" in choosing among bundles of public goods and tax rates
What will be an ideal response?
If a firm is earning negative accounting profits, it implies
a. That the firm's economic profits are necessarily zero b. That the firm's economic profits are necessarily positive c. That the firm's economic profits are necessarily negative d. Accounting profits alone cannot determine economic profits
Explain what effect an increase in future expected output will have on the IS curve and LM curve in the current period
What will be an ideal response?
If the price of grapefruit rises, the substitution effect due to the price change will cause
A) a decrease in the demand for grapefruit. B) a decrease in the demand for oranges, a substitute for grapefruit. C) a decrease in the quantity of grapefruit demanded. D) a decrease in the quantity of grapefruit supplied.