Taxes on employment are called payroll taxes. The largest employment tax in the

Question

Taxes on employment are called payroll taxes. The largest employment tax in the U.S. is used to pay for

Question 14 options:

welfare

national defense

Social Security

interest on the national debt

Medicaid

According to the equation of exchange, if real GDP is $4 trillion and the money supply is $1.0 trillion, the velocity of money

Question 15 options:

must be 1/4 trillion

cannot be determined unless we know the price level

must be 4 trillion

must be 1/4

must be 4

The classical economists felt that planned saving would be equal to planned investment because

Question 16 options:

wages are flexible.

prices of imports are flexible.

prices of domestic goods are flexible.

interest rates are flexible and are the reason people save

welfare

national defense

Social Security

interest on the national debt

Medicaid

According to the equation of exchange, if real GDP is $4 trillion and the money supply is $1.0 trillion, the velocity of money

Question 15 options:

must be 1/4 trillion

cannot be determined unless we know the price level

must be 4 trillion

must be 1/4

must be 4

The classical economists felt that planned saving would be equal to planned investment because

Question 16 options:

wages are flexible.

prices of imports are flexible.

prices of domestic goods are flexible.

interest rates are flexible and are the reason people save

Explanation / Answer

Answer ) Q14.) c.) social security.

In the United States, federal payroll taxes cover Social Security and Medicare contributions.

Q15.) e.) must be 4.

GDP/MONEY SUPPLY = $4 triliion/$1.0 trillion. = 4.

Q.16.) d.) interest rates are flexible and are the reason people save.

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