Since the FICA tax is split equally between employers and employees, we can conclude that the incidence of this tax is also equally shared
a. True
b. False
Indicate whether the statement is true or false
False
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Tax revenue is greater the more price elastic the demand curve
Indicate whether the statement is true or false
What happens to the quantity of loanable funds supplied when the interest rate rises? Explain why this change happens
An old friend takes you out to dinner and pays for your meal. Which of the following best represents your opportunity cost?
A) the amount of money you would have spent to pay for the dinner yourself B) the money your friend could have made buying a winning lottery ticket C) the money you could have made working overtime at your job D) Both A and C
The short-run equilibrium output of a competitive firm is found by equating marginal cost with price
a. True b. False Indicate whether the statement is true or false