The legal environment affecting labor relations includes all of the following except:
A. monetary policy.
B. common law.
C. bankruptcy codes.
D. deregulation.
A. monetary policy.
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The Social Security rate is 6.2% with a ceiling of $106,800, and the Medicare Tax rate is 1.45% with no ceiling. The single employee of the business has earned $106,600 to date. The employee's gross earnings this pay period total $7,000 . What will be the total amount of Social Security tax and Medicare tax that will be withheld from this employee's gross earnings?
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