In 2009, the United States balance of trade deficit with China was about 4 times as large as the balance of trade deficit with Canada
a. True
b. False
A
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FICA is a payroll tax imposed on employers and workers that is used to fund Social Security and Medicare. Which of the following statements regarding the tax is true?
A) Most economists believe the burden of the tax falls almost entirely on workers. B) Congress wanted the burden of the tax to be greater for employers than for workers. C) Most economists believe the burden of the tax falls mostly on employers. D) Employers are required to pay a greater share of the tax than workers but most economists believe the burden of the tax is shared equally.
Social Security pension benefits are
A. subject to income taxes for those with certain income levels. B. non-taxable for all retirees. C. subject to state, but not federal, income taxes. D. subject to capital gains taxes.
The unemployment that results from the process of matching workers and jobs is called frictional unemployment
a. True b. False Indicate whether the statement is true or false
Which of the following reduces the duration of frictional unemployment?
A. retraining unemployed workers to equip them with new skills B. subsidizing firms that are willing to train new entrants in the labor market C. establishing employment agencies which give out information about job vacancies D. cestablishing labor unions which will protect workers from being laid off.