Trade allows each country to take advantage of lower ___________ costs in the other country.

Assume that a firm pays its workers above the market-clearing wage in a competitive industry. Explain how this might be a strategy to mitigate the problem of moral hazard?

What will be an ideal response?

The payroll tax is a tax imposed on ________ that is used to fund Social Security and Medicare

A) workers only B) employers only C) employers and workers D) the unemployed