Asked by Victoria Rodriguez on May 15, 2024
Verified
Refer to Figure 19.1. The payroll tax imposed is ________ per unit of labor.
A) $2
B) $3
C) $5
D) $10
Payroll Tax
Charges applied to both employers and employees, often determined as a percentage of the wages paid to employees.
Per Unit
A term used to express costs, prices, or other measurements on an individual basis, allowing for straightforward comparisons or calculations.
- Examine the impact of particular taxes, including luxury and payroll taxes, on the dynamics of market behavior and the balance of economic equilibrium.
Verified Answer
I&
Ieshia & Darius #ID4LMay 21, 2024
Final Answer :
C
Explanation :
The payroll tax per unit of labor is the vertical distance between the supply curve before the tax and the supply curve after the tax is imposed. This distance represents the amount of tax paid per unit of labor, which, based on the description provided, is $5.
Learning Objectives
- Examine the impact of particular taxes, including luxury and payroll taxes, on the dynamics of market behavior and the balance of economic equilibrium.
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