A tax is imposed on employers and workers that are used to fund Social Security and Medicare. This tax is sometimes referred to as

A "free rider" is someone who

A) pursues his or her own selfish interests. B) generates negative externalities for everyone else. C) accepts benefits without paying his or her share for receiving the benefits. D) actually improves the efficiency of market processes by buying low and selling high.

If demand for Rolls Royce automobiles rises in an area where incomes have increased, this tells us that a Rolls Royce is

A) a normal good. B) an inferior good. C) a complementary good. D) a substitute good.

For almost all goods, the:

A. lower the price goes, the higher the quantity supplied. B. higher the price goes, the more luxurious it is. C. lower the price goes, the more luxurious it is. D. higher the price goes, the higher the quantity supplied.

Which one of these groups is counted among the unemployed?

A. Discouraged workers B. People collecting unemployment benefits C. People working part time D. People out of the labor force