The discounted value of a future payment is also referred to as:

Social Security tax is deducted from your paycheck. In the figure above, this will be shown as

A) taxes flowing from households to firms. B) taxes flowing from households to governments. C) wages flowing from firms to governments. D) wages flowing from firms to households. E) taxes flowing from firms to governments.

All other factors being constant, a reduction in price tends to cause which of the following?

A) an increase in supply and an increase in demand B) a reduction in supply and an increase in demand C) an increase in quantity supplied and a reduction in quantity demanded D) a reduction in quantity supplied and an increase in quantity demanded