Examlex
Which of the following statements successfully differentiates the term MIS from IT?
FICA Taxes
Taxes levied by the Federal Insurance Contributions Act in the United States to fund Social Security and Medicare programs, deducted from workers' paychecks.
Income Taxes
Taxes imposed by a government on individuals or entities based on their income or profits.
Deadweight Loss
A loss of economic efficiency that occurs when the equilibrium outcome is not achievable or not achieved in a market.
Administrative Cost
Expenses related to the general operation of a business, including office supplies, salaries of non-production staff, and rent.
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