The Figure Below Shows the Demand (D) and Supply (S)

question 4

Multiple Choice

The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.Figure 21.4

-What is a currency board?

• A)A fixed exchange rate that, by law, exchanges domestic currency for a specified foreign currency at a fixed exchange rate.
• B)A floating exchange rate.
• C)A managed floating exchange-rate policy that the government adjusts periodically according to some economic indicator.
• D)A laissez-faire exchange-rate policy.
• E)An interventionist exchange-rate policy.

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Definitions:

FICA Taxes

Taxes imposed by the Federal Insurance Contributions Act, which fund Social Security and Medicare, split between employees and employers.

Federal Unemployment Insurance

A government-provided insurance scheme that offers payments to eligible unemployed workers.

State Unemployment Insurance

A government-mandated program that provides temporary financial assistance to workers who have lost their jobs through no fault of their own.

Employer Payroll Tax

Taxes that employers are required to pay on behalf of their employees, including Social Security, Medicare, and unemployment taxes.