Economic historians do not believe there was a shortage of money in colonial America for which of the following reasons?
(a) Interest rates were not unreasonably high.
(b) Long-term prices were rising.
(c) The colonial economy was growing in real terms.
(d) All of the above.
(d)
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What will be an ideal response?
In 2010 the federal government reduced the Social Security tax withholding rate from 12.4 percent (6.2 percent on both the employer and employee) to 8.4 percent (4.2 percent on both the employer and employee) on the wages of all workers. If the tax were redefined such that the entire 12.4 percent was statutorily levied on employers, economic analysis suggests that the actual burden of the tax
would a. remain unchanged. b. shift more heavily toward employers. c. shift more heavily toward employees. d. be different than if the entire 12.4 percent was statutorily imposed on employees.