Which type of tax is used to finance the Social Security program in the United States?
a. consumption tax
b. income tax
c. payroll tax
d. property tax
c
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When the economy slows down:
A. firms contract their operations. B. demand for workers decreases. C. GDP growth is slowing or negative. D. All of these are true.
If a third party pays a larger and larger share of the purchasing price of a good, economic theory indicates that
a. the total expenditures (including those made by the third party) on the good will decline. b. the demand for the good will decrease. c. consumers will have a stronger incentive to economize on their use of the good. d. suppliers will have less incentive to provide the good at low prices.
Keynesian economists believe:
A. government policies do not affect economic activity. B. most government policies would probably make things worse. C. governments can implement policy proposals that can positively impact the economy. D. the economy ought to be left to market forces.
The two groups that benefit the most from quotas are
A) the importers who have the right to import the restricted good and the domestic producers of the restricted good. B) the domestic consumers of the restricted good and the domestic producers of the restricted good. C) the domestic consumers of the restricted good and the foreign producers of the restricted good. D) the importers who have the right to import the restricted good and the domestic consumers of the restricted good.