Match the Terms with the Definitions

question 6

Multiple Choice

Match the terms with the definitions.
-Employer's Annual Federal Unemployment Tax Return

• A)Electronic Federal Tax Payment System (EFTPS)
• B)employer FICA taxes
• C)Employer Identification Number (EIN)
• D)Form W-2
• E)Form W-3
• F)Form 940
• G)Form 941
• H)FUTA (Federal Unemployment Tax Act) tax
• I)merit-rating system
• J)self-employment income
• K)self-employment tax
• L)SUTA (state unemployment tax) tax
• M)workers' compensation insurance

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Definitions:

Monopolistically Competitive

A marketplace setup in which various enterprises deal in goods that are alike but not identical, affording them some degree of control in the market.

Cost Curves

Graphical representations showing the relationship between the cost of producing goods or services and the quantity produced.

Optimal Scale

The size of a company or level of production that minimizes costs and maximizes efficiency and profit.

Long-run Equilibrium

A state in which all inputs can be adjusted by firms, market supply meets demand, and no economic profit is earned by firms in a perfectly competitive market.