Friedman argued that the Fed could use monetary policy to peg

When President Obama took office in January 2009, he pledged to pursue an expansionary fiscal policy to try to pull the economy out of the recession

The next month, Congress passed the American Recovery and Reinvestment Act of 2009, a $840 billion package of ________ that was the largest fiscal policy action in U.S. history. A) interest rate reductions and increases in the money supply B) treasury bond purchases and mortgage-backed securities purchases C) commercial and investment bank bailouts D) spending increases and tax cuts

Explain the factors that determine the incidence of the payroll tax. Illustrate your answer using graphs

In the United States, who bears most of the payroll tax employers or workers? Why? (Hint: draw two separate supply and demand curves for labor. Show one with a relatively elastic supply for labor and one with a relatively inelastic supply).