Refer to the Table Below

question 56

Multiple Choice

Refer to the table below. Relative to column C, column D represents:

• A) an increase in supply.
• B) an increase in demand.
• C) a decrease in demand.
• D) a decrease in supply.

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Definitions:

FICA Tax

Federal Insurance Contributions Act tax, a payroll tax deducted from employees' wages for Social Security and Medicare benefits.

Employer

An individual or business entity that hires and pays wages or salaries to one or more employees in exchange for their work.

Paychecks

Documents issued by an employer to an employee to pay for services rendered, representing salary or wages.

Withheld FICA Tax

Taxes taken out of an employee's paycheck for Social Security and Medicare.