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3 years ago

5

A high school student working part-time as a shelf stocker had a gross income of $6675 last year. If his federal tax rate was 10

% and his state tax rate was 3%, what was the amount withheld from his pay last year in federal tax, state tax, and FICA combined?

2 answers:

attashe74 [19]3 years ago

8 0

Answer:

It's $1378.39

I just took the test on Ape.x

Natalka [10]3 years ago

7 0

Answer:$1378.38

Explanation:

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Suppose a tax of $4 per unit is imposed on a good, and the tax causes the equilibrium quantity of the good to decrease from 2,00

Marina CMI [18]

Answer:

option (c) $600

Explanation:

Given:

Tax = $4 per unit

Initial equilibrium quantity = 2,000 units

Final equilibrium quantity = 1,700 units

Decrease in consumer surplus = $3,000

Decrease in consumer surplus = $4,400

Now,

Deadweight Loss is calculated using the formula:

Deadweight loss

= $\frac{1}{2}$ × Tax × (Original equilibrium quantity - New equilibrium quantity)

on substituting the respective values, we get

Deadweight loss = $\frac{1}{2}$ × 4 × (2,000 - 1,700)

or

Deadweight loss = 2 × (3) = $600

Hence,

the correct answer is option (c) $600

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SOVA2 [1]

Answer:

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Explanation:

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How does the law of diminishing marginal utility relate to law of demand?

HACTEHA [7]

Answer:

Explanation:

The law of diminishing marginal utility helps to explain the negative slope of the demand curve and the law of demand.If the satisfaction obtained from a good declines, then buyers are willing to pay a lower price, hence demand price is inversely related to quantity demanded, which is the law of demand.

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gayaneshka [121]

A. After cutting wages and benefits in order to increase profit

Explanation:

As a company that exists in an environment, it has a responsibility to socially responsible for its actions that affect its environment including individuals(employees)

The employees are part of the social environment, so cutting their wages and benefits does not make the company socially responsible.

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