In Economics,cost Is Measured as ________,And Benefit Is Measured as ________

question 291

Multiple Choice

In economics,cost is measured as ________,and benefit is measured as ________.

• A) what you must give up to get something; what you are willing to give up to get it
• B) what you are willing to give up to get it; what you must give up to get something
• C) the amount of money that you pay for something; the amount of money that someone else is willing to pay you
• D) what you are willing to pay on the margin; what the government pays you when you are unemployed or retired
• E) the amount of money that you pay on the margin; the amount of money that you receive on the margin

---

Definitions:

FICA Taxes Payable

Taxes owed by an employer, employee, or both, to the Federal Insurance Contributions Act for Social Security and Medicare.

Employer's Payroll Taxes

Taxes that an employer must pay based on the wages and salaries of its employees, which can include Social Security taxes, Medicare taxes, and unemployment taxes.

Medicare Tax Rate

The percentage of an individual's earnings that is deducted to fund the Medicare program, as specified by federal law.

Social Security Tax

A tax that funds the Social Security program, collected from both employers and employees to provide retirement, disability, and survivor benefits.