The tax incidence of a payroll tax results in an increase in net wages.
Answer the following statement true (T) or false (F)
False
A payroll tax will reduce the net earnings to workers and raise the cost of labor to the employers.
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When oil and energy prices rise, the economy tends to experience ________.
A. cost-push inflation B. natural inflation C. demand-pull inflation D. unexpected inflation
Figure 3-15
Refer to . Which area represents the increase in producer surplus when the price rises from P1 to P2?
a.
BCE
b.
ACF
c.
ABED
d.
AFEB
A firm's cost of production is affected by changes in
A. the available technology. B. input prices. C. profits. D. both a and b E. both b and c
An increase in fixed cost will, in the short run, alter the industry's output of
a. both a monopolist and a competitive industry. b. only a monopolist. c. only a competitive industry. d. neither a monopolist nor a competitive industry.