Which of the following statements about payroll taxes is false?
A. They provide funds for Social Security
B. They include Medicare taxes
C. Both employers and employees pay these taxes
D. They are lump-sum taxes not based on wages/salaries
D. They are lump-sum taxes not based on wages/salaries
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The bond markets are important because they are
A) easily the most widely followed financial markets in the United States. B) the markets where foreign exchange rates are determined. C) the markets where interest rates are determined. D) the markets where all borrowers get their funds.
A firm is operating such that the marginal product of labor is 10 and the marginal product of capital is 20. The firm is minimizing its costs only if
A. the rental rate is half the wage. B. the wage is half the rental rate. C. since capital is more productive than labor, the firm must be minimizing cost. D. Given this information the firm can't be minimizing cost under any circumstances.