Social Security contributions are
A) a voluntary dollar amount that people contribute towards Social Security.
B) entirely paid by your employer.
C) mandatory taxes partially paid out of workers' wages and salaries.
D) collected only from people earning more than $120,000 a year.
C
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Recall the Application. Recessions can occur either when there is a(n) ________ in aggregate demand or a(n) ________ in aggregate supply
A) decrease; increase B) increase; increase C) decrease; decrease D) increase; decrease
Trinh quits his $80,000-a-year job to become a full-time volunteer at a museum. What is the opportunity cost of his decision?
A) the value he attributes to the joy of working at a museum B) depends on the "going rate" of museum employees C) at least $80,000 D) 0 since he will no longer be earning a salary