Which of the following is the source of revenue for Medicare and Social Security in the United States?
A) individual income taxes
B) social insurance taxes
C) sales taxes
D) property taxes
B
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How does an increase in expected profit affect investment demand and the demand for loanable funds curve?
What will be an ideal response?
Along an indifference curve
A. the price ratio is constant. B. the ratio of the marginal utilities is constant. C. the MRS is constant. D. all of the above E. none of the above
When a second firm enters a market, the original firm's profits decline because:
A. the original firm's price decreases. B. the original firm's ATC increases. C. the original firm's quantity decreases. D. All of these are correct.
Explain how present value calculations are used to evaluate future possibilities in the case of oil. Give an example using a present value calculation
What will be an ideal response?