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Suppose that residents of a town are asked to vote on the best way to improve the safety of an intersection. The three choices are: a stoplight, a 4-way stop, and a 2-way stop. When the mayor asks the residents to choose between a stoplight and a 4-way stop, the residents choose a 4-way stop. Then, when the mayor asks them to choose between a 4-way stop and a 2-way stop, they choose a 2-way stop. However, if the mayor firsts asks the residents to choose between a 4-way stop and a 2-way stop, they choose a 2-way stop. Then, when the mayor asks the residents to choose between a 2-way stop and a stoplight, they choose a stoplight. What does this example illustrate?
Unemployment Program
A government initiative providing financial assistance and support services to eligible individuals who are temporarily out of work.
FICA-OASDI Tax
Federal Insurance Contributions Act - Old Age, Survivors, and Disability Insurance tax; a payroll tax that funds Social Security and Medicare in the United States.
FICA-Medicare Tax
A payroll tax deducted from employee wages and paid by both employees and employers to fund Medicare.
Federal Income Tax
A tax levied by the federal government on yearly income earned by individuals, businesses, and other organizations.
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