An Increase in Exports of Goods or Services with No

question 77

Multiple Choice

An increase in exports of goods or services with no change in imports of goods or services

• A)may increase or decrease GDP depending on whether it is the export of goods or the export of services that increased.
• B)increases GDP.
• C)has no effect on GDP.
• D)decreases GDP.

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Definitions:

Employer's Payroll Taxes Expenses

These are taxes paid by the employer based on the wage and salary amounts paid to employees, including social security, Medicare taxes, and unemployment taxes.

FICA Tax

Taxes required by the Federal Insurance Contributions Act, funding Social Security and Medicare benefits.

FUTA Tax

The Federal Unemployment Tax Act tax, which employers pay to help fund state workforce agencies.

SUTA Tax

A state unemployment tax assessed by individual states on employers, used to fund their unemployment insurance and job service programs.