16)What is the FICA tax used to pay for?

Social Security

Medicaid and Medicare

Medicare

Social Security and Medicare

17)Marginal tax rates today are relatively ______by historical standards.

average

high

low

equal

18)To which of the following does the marginal tax rate apply?

Next dollar of income

First dollar of income

Last dollar of income

Average dollar of income

19)When a tax system is progressive, with higher rates on higher levels of income, your averagetax rate will always be _______ your marginal rate.

more than

the same as

more than or equal to

less than

20)Income levels applicable to each marginal tax bracket are adjusted each year based on

inflation.

budget deficits.

the Federal Reserve.

presidential executive order.