Which of the Following Statements Is Not Correct

question 81

Multiple Choice

Which of the following statements is not correct?

• A)A few states levy an unemployment tax on the employee that must be withheld from the employee's pay.
• B)The reduction of state unemployment taxes because of favorable experience ratings reduces the credit allowable against the federal unemployment tax.
• C)One of the purposes of the unemployment insurance program is to stabilize employment and reduce unemployment.
• D)The unemployment insurance program is a federal program.

---

Definitions:

Means of Payment

Various methods through which debts can be paid, ranging from physical currency to electronic transfers of funds.

Precious Metals

Metals that are rare and have high economic value, such as gold, silver, and platinum.

Currency

The system of money in general use in a particular country, vital for financial transactions and economic activities.

M1

A category of the money supply that includes all physical money like coins and currency, as well as demand deposits, checking accounts, and negotiable order of withdrawal (NOW) accounts.