Social insurance taxes are paid by wages and investment income
Indicate whether the statement is true or false
FALSE
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A study of the effects of the minimum wage on employment of low-skilled workers estimated the price elasticity of demand for low-skilled workers is -0.75
Suppose that the government is considering raising the minimum wage from $7.25 per hour to $7.75 per hour. Based on this information, calculate the percentage change in the employment of low skilled workers. Use the midpoint formula.
In general, the optimal taxation literature finds that a society can maximize social welfare through income redistribution
a. True b. False
The demand curve for a monopolistic competitor is based on the extent of its product differentiation and how many competitors it faces
a. True b. False Indicate whether the statement is true or false
To bring her family of four up to the poverty line, a woman would need to earn almost $_______ per hour, 40 hours per week, 52 weeks a year.
Fill in the blank(s) with the appropriate word(s).