The payroll tax system is a proportional tax for all income earners

How does microeconomics differ from macroeconomics? Would the supply of iPhones in the United States be studied under microeconomics or macroeconomics? What about the growth rate of total economic output in the national economy?

What will be an ideal response?

Normative economic analysis _____

a. is concerned only with the facts b. is a statement about the relationship between a policy change an outcome c. judges the desirability of a policy change d. does not involve value judgments