ECONOMICS
FISCAL POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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FICA includes taxes to pay for ____
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Social Security and Medicare
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Social Security and Unemployment
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Unemployment and Medicare
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Medicare and Workers Compensation
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Explanation:
Detailed explanation-1: -Taxes under the Federal Insurance Contributions Act (FICA) are composed of the old-age, survivors, and disability insurance taxes, also known as social security taxes, and the hospital insurance tax, also known as Medicare taxes. Different rates apply for these taxes.
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