Official unemployment rate statistics may:
A. Overstate the amount of unemployment by including part-time workers in the calculations
B. Understate the amount of unemployment by excluding part-time workers in the calculations
C. Overstate the amount of unemployment because of the presence of "discouraged" workers
who are not actively seeking employment
D. Understate the amount of unemployment because of the presence of "discouraged"
workers who are not actively seeking employment
D. Understate the amount of unemployment because of the presence of "discouraged" workers who are not actively seeking employment
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Employers withhold several taxes from employees ' paychecks, one of which is FICA. Congress requires employers to pay half of the FICA tax and workers to pay the other half
Does this mean that the burden of the FICA tax falls evenly on employers and employees? Briefly explain.
The underground economy
a. includes mining production. b. is estimated by the government and the estimate is part of official GDP. c. includes production that uses illegal workers who are paid less than minimum wage. d. is measured by government officials through tax returns. e. is difficult to describe but easy to measure.