Refer to the above figure. The figure represents the consumption function for a consumer. Point B represents

Social Security taxes are

A) progressive because all workers pay the tax. B) regressive because higher income workers pay taxes on a smaller percentage of their income. C) proportional because everyone is charged the same percentage tax rate. D) regressive because higher income workers don't pay the tax.

In terms of aggregate supply, a period in which nominal wages and other resource prices are fully responsive to price-level changes is called the:

A. long run. B. short run. C. immediate market period. D. very long run.