The Joneses have a taxable income of $18,000, all in the form of wages. They have three children, and they take the standard deduction. Which statement is true?
A. The Joneses pay more in Social Security tax than in personal income tax.
B. The Joneses pay more in personal income tax than in Social Security tax.
C. The Joneses pay about the same amount in Social Security tax and personal income tax.
D. It is impossible to determine if the Joneses pay more in Social Security tax than in personal income tax.
A. The Joneses pay more in Social Security tax than in personal income tax.
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When an individual is frictionally unemployed, the unemployment arises from
A) a short-term elimination of jobs because of a slowdown in business activity. B) imperfect labor market information which requires individuals to search for appropriate employment. C) the permanent elimination of jobs because of a change in the structure of the economy. D) a reduction in the overall demand for labor's skills.
Evidence against market efficiency includes
A) failure of technical analysis to outperform the market. B) the random walk behavior of stock prices. C) the inability of mutual fund managers to consistently beat the market. D) the January effect.
What most frightens investors in the stock market is
A. the possibility of losing their investments. B. the possibility of gaining too much from their investments, and the resultant tax consequences. C. the possibility that the prices of many investments may collapse simultaneously. D. the possibility that a company that they have invested in will go bankrupt.
If a single large employer bargains with an inclusive union, the resulting labor market model can best be described as:
A. a cartel. B. countervailing power. C. a bilateral monopoly. D. an internal labor market.