n which case is the total amount of a payroll tax paid by employees through lower wages?     Group of answer choices When the labor supply curve is horizontal. When the labor supply curve is vertical.. When the labor demand curve is vertical. When the labor supply curve is downward sloping at a 45-degree angle.   When unemployment is widespread and the wage is above its market clearing level, a cut in employer payroll tax will   Group of answer choices drive up wages but have little to no effect on employment and unemployment. increase employment, reduce unemployment, and have little effect on wages. be largely ineffective. benefit employers and have no effect on workers.

Q: 7. Consider a competitive labor market where the market demand and the market supply are given…

A: * ANSWER:-

Q: Read the following and answer question? ‘Exit tax’ to hit South Africans looking to emigrate from…

A: The exit tax is levied on the persons who migrate from their country to another country.  So, the…

Q: Can you explain why I got this wrong? I thought that if the supply was more inelastic then the…

A: If the government imposes tax on labor income, the labor market would be affected. The supply of…

Q: Illustrate with a diagram and carefully explain the impact of an increase in the income tax rate…

A: Labor: - labor is one of the factors of production, any physical and mental work by humans against a…

Q: no handwriting, please Illustrate and carefully explain the impact of an increase in the income tax…

A: The labor market is indicated by the demand for labor and supply of labor, where equilibrium is…

Q: Incomes for both low-income and high-income workers go up. However, the increase is higher for high-…

A: Poverty is the number of people living below the poverty line. Inequality refers to the income…

Q: An increase in an effective federal minimum wage would tend to cause O A. a decrease in wage rates…

A: Minimum wages:- A minimum wage refers to the minimum amount that businesses are permitted to give…

Q: Explain all right as well as wrong options In 1986 Congress drastically cut the marginal tax rate…

A: The Tax Reform Act of 1986 was probably the most significant reform of the federal income tax in the…

Q: Consider a perfectly competitive labor market with a very inelastic supply of labor. If a payroll…

A: Elasticity of labor supply measures the responsiveness of number of labor supplied to changes in the…

Q: The federal government currently levies a 15.3 percent payroll tax (7.65 percent on both the…

A: Answer: A (fall primarily on employees) Explanation:  The burden of the tax falls more on employees…

Q: llustrate with a clear diagram and carefully explain the impact of an increase in the income tax…

A: The labor market illustrates how the interaction between the employers and the workers determines…

Q: In the United States, payroll taxes are essentially assessed evenly between workers and firms.…

A: Labor supply refers to the supply of labor in the market who are ready to do the job at the given…

Q: o economic theory, which of the following is NOT a feature of an ideal tax system? Multiple Choice…

A: In economics, the Ideal Tax system is a system that complete the criteria of increasing state…

Q: In the United States, labor supply tends to be inelastic relative to labor demand, and according to…

A: In the (US), the supply of labour tends to be inelastic and demand of labour tends to be elastic,…

Q: The Laffer curve suggests which of the following? a. the optimal tax rate on labor income is 0% b.…

A: Laffer curve: - Laffer curve is the graphical representation of the relationship of tax rate and the…

Q: Why do labor experts disagree about whether labor taxes have small or large deadweight losses? Given…

A: Tax is a compulsory contribution as a unilateral payment from the people to the government.…

Q: During a recession and with a normally set collective wage , the expected effect on employment of…

A: Recession, which is the third phase of the business cycle, is characterized in the form of the…

Q: he minimum wage in year 1 is $1 higher than the equilibrium wage. In year 2, the minimum wage is…

A: Minimum wage - Minimum wage is a wage that a producer must pay to employee for their work.

Q: Which of the following is an example of implicit costs?   A. payments made by the firm to others…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Suppose that labour demand and labour supply are represented by the equations: Demand: LD = 10 -…

A: Given,  Demand : LD = 10-0.5WSupply : LS = 0.5W

Q: The actual burden of a tax falls most heavily on the side of the market that is more elastic. O…

A: with the imposition of tax, there is increase in price paid by buyerspTwhereas decrease in price…

Q: In 2019, the country of Cheeseling was suffering from a period of high unemployment. The new…

A: "In labor market there are two players employees who supply their labor and employers who demand…

Q: . The payroll tax for unemployment insurance in a certain nation taxes all wages up to a maximum per…

A: Answer: Given, Tax rate = 5% Wages taxable per worker =upto $30,000 Introduction: Average tax rate…

Q: define hysteresis on the labor market and give one reason why it may arise in a recession

A: Hysteresis emerge when one disturbance act on or affects the trajectory of the economy.

Q: assistants (that is, the wage received by workers minus any taxes collected from the workers).…

A: The supply and demand for labour, wherein employees give the supply and employers provide the…

Q: If older workers have a tax elasticity of labor supply equal to 0.20, by how much will their work…

A: Tax elasticity of labor supply refers to the responsiveness of labor supply to a change in the tax…

Q: Statutory Minimum Wage (SMW) has come into force since 1 May 2011 in Hong Kong. The current SMW rate…

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…

Q: Suppose labour supply depends positively on net of tax wage (Wt) and labour demand depends…

A: Labor supply represents the total quantity of labor supplied at given wage rate, whereas labor…

Q: Suppose a tax on wages is passed to finance a government program.  The legislation orders a tax of…

A: When compared to more effective policy measures, tax policy can only play a minor role in…

Q: The table below shows several possible situations for an economy in terms of output gaps and the…

A: Given:Potential GDP=$800 billion

Q: The payroll tax for unemployment insurance in a certain nation taxes all wages up to a maximum per…

A: Marginal tax rate is equal to the tax rate imposed on the last dollar of income. Average tax rate…

Q: a) What is the equilibrium wage rate and equilibrium level of employment? A. $15 and 35 units of…

A: Perfect competition refers to the situation where there are large number of prouder and consumers…

Q: Identify the effect of increase in tax rates on either demand or supply curve and the equilibruim…

A: Taxes are the form of government revenue which are collected through the goods and services…

Q: A change to personal income tax rates has both an income and a substitution effect on labor supply.…

A: Any change in the labor income of workers has two effects leading to the change in labor supply or…

Q: The Tax Cuts and Jobs Act (TCJA) of 2017 made two major changes to U.S. tax law. One was a reduction…

A: The Tax Cuts and Jobs Act of 2017 (TCJA) lowers income tax rates for most individual tax brackets…

Q: he Laffer curve suggests A.there is some maximum amount of tax revenue that the government can…

A: LC is a theory formulated by the economist Arthur Laffer. The LC denotes the relation between the…

Q: Assume that the supply of low-skilled workers is fairly elastic, but the employers’ demand for such…

A: Elastic supply implies that a small percentage change in price changes the quantity supplied by a…

Q: If older workers have a tax elasticity of labor supply equal to 0.25, by how much will their work…

A: Tax elasticity: It relies upon the relative value versatility of market interest. At the point when…

Q: One of the issues that is debated in virtually every election is whether to raise the federal…

A: Given information: Wage rate = $7.25 Tax rate = 10%

Q: In New York workers face a state income tax rate of about 6.5%. In addition, workers who reside in…

A: City tax is levy for utility service provided by government like police service , garbage cleaning…

Q: A senator wants to raise tax revenue and makes worker better off.a staff member proposes raising the…

A: Government earns revenue by imposing taxes. These taxes can be income tax , VAT etc. Government when…

Q: Discuss Keynesian view of minimum wage legislation on employment.

A: Minimum wage is the lowest wage that has to give for the labor. Generally, minimum wage is greater…

Q: Please only answer question 3 The statutory marginal tax rate for income levels between $0 and…

A: Income = $200000Hourly wage of child care = $20  Hours of child care = 800 hours  Total child care…

Q: Assume that a labor market has the following supply and demand functions: Ls = 179 + 8W LD = 604 -…

A:

Q: If older workers have a tax elasticity of labor supply equal to 014, by how much will their work…

A: E = 0.14 Q1 = ? Q2 = 50 T = 20   Now, E = {(Q2-Q1)/(Q2+Q1)/2}/T 0.14 = {(50-Q1)/(50+Q1)/2}/20 2.8 =…