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Elodia [21]
3 years ago
14

Where does the money you pay for the FICA tax on your paycheck go?

Business
1 answer:
strojnjashka [21]3 years ago
4 0

Answer:

see below

Explanation:

Social security and medicare taxes form the Federal Insurance Contributions Act (FICA) tax. These taxes are deducted from both the employer and employee per paycheck.

Social security tax forms the bulk of the FICA tax. The tax revenue collected as social security tax funds the United States government Social Security Trusts. The trusts are programs managed by the Social Security administration and include

  1. Retirement benefits
  2. Survivor benefits
  3. Disability benefits

Medicare tax revenue funds Federal government medicare programs. This program caters to older American health care costs.  The government's general revenue also finances health care. Medicare or health services in the USA are not solely dependent on medicare tax.

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The people in an economy have $10 million in money. There is only one bank that all the people deposit their money in and it hol
pogonyaev

Answer: d. 20

Explanation:

The Money multiplier is the number that new deposits are multiplied with to find out their total effect on the banking system.

It is calculated by dividing 1 by the required reserve ratio.

Required reserve ratio = 0.5/10

= 5%

Money Multiplier = 1/5%

= 20

7 0
3 years ago
Cual funcion cumplen los indicadores económicos por el gobierno de un país?
disa [49]
El function complen por lost indicadores enonomicos=Bancos
3 0
4 years ago
In a market served by a monopoly, the marginal cost is $60 and the price is $110. In a perfectly competitive market, the margina
Mice21 [21]

Answer: In a market served by a monopoly, the marginal cost is $60 and the price is $110. In a perfectly competitive market, the marginal cost is $60. If the marginal cost increased from $60 to $75, the monopoly would raise its price <u>by less than $15</u>, and the price in the perfectly competitive market would <u>increase to $75.</u>

Explanation: The monopolist attends to the market demand, therefore the choice of the monopolist is limited by the market demand. If you set a very high price, you will only sell the amount that the demand you want to buy at that price, so it will only increase by less than $ 15.

In a market of perfect competition the companies are accepting price and will produce until the price is equal to the marginal cost so the price would rise to $ 75.

7 0
3 years ago
To determine a product selling price based on the total cost method, management should include?
Schach [20]

If one wants to determine the selling price of a product using the total cost method, the management should use Total product costs plus a markup.

<h3>What is the total cost method?</h3>

The actual cost of performance is generally subtracted from the bid price before profit is added to the resultant sum in the total cost approach.

A production income statement is what the total cost method is. In other words, the units of measurement generated are utilized to accrue income and expenses. The units of measure produced during the reviewed period are used to calculate income and expenses.

When employing the whole cost method, the business accounts for all expenses associated with manufacturing the questioned well. The price of the entire product is included.

The final step is to add a markup to the overall cost in order to determine a selling price that will allow for the anticipated level of profit.

To learn more about the total cost method refer to:

brainly.com/question/6480601.

#SPJ4

8 0
2 years ago
While shopping in a local supermarket, Jolene Partin came upon an aisle display of cookies and had to have some-immediately. By
Alenkasestr [34]

Answer:

an impulse product

Explanation:

When we talk about impulse products we are referring to products that people generally buy on impulse reactions. Generally in a supermarket the aisle just before the cash register is full of candy, chocolates, or other impulse products. Generally impulse products are not expensive so people usually don't think a lot about whether they will buy them or not, they just do it.

6 0
3 years ago
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