For all employee earnings subject to Social Security taxes, what is the current Social Security tax rate for employees?
A) 0.8%
B) 2.9%
C) 4.2%
D) 6.2%
Answer: D
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If Claeys, a candy-making firm that specializes in old-fashioned hard candies, chooses not to produce at a production level where its MR = MC, then it
a. is making as much profit as possible b. will incur losses c. cannot be earning a profit d. should really shut down before it loses everything e. is not earning maximum profit
According to the paradox of thrift, when people try to save more, this causes
a. intended investment to automatically rise to match the change in the increased level of saving b. national income to rise causing saving to rise c. levels of income to remain unchanged causing saving levels to rise d. saving to be greater than intended investment, which causes national income to fall, causing saving to remain constant or actually fall e. saving to be less than investment, which causes national income to rise causing saving to rise
Which of the following is true when an economy is producing efficiently?
A. The economy is producing outside the production possibilities curve. B. Everyone in the economy is happy. C. The economy is producing on the production possibilities curve. D. The economy is getting the fewest goods and services from the available resources.
A union could raise wages without causing unemployment of union members if it can increase demand for union labor. How might this goal be achieved?
What will be an ideal response?