Since the increasing level of government transfers only transfers the wealth without actual creation of goods/services, Higher taxes may be necessary to finance increased transfer payments, leading to a reduction in hours worked because of a decrease in the reward for productive activity. Not only that, <span>.Greater transfer activity diverts productive resources into rent-seeking activity</span>
Answer:
Agree with the statement.
Explanation:
Structural unemployment refers to the mismatch of the abilities of the workforce of the economy with the changing ability requirements demanded by the industries in the economy.
This mainly happens because of the new technological innovations and the obsolete education system in a country. One a new technology or a new innovation comes in, the knowledge and the experience possessed by the workers become obsolete.
To eliminate the structural unemployment, the education system, higher education system, professional education system and national employee training and development policies has to be changed and updated accordingly with the changing global market skills demand.
Answer:
2. c. 66.982
See explaination
Explanation:
Please kindly check attachment for the step by step solution of the given problem.
Answer:
Part 1:
Total amount withheld for Social Security and medicare=$16264.2
Amount withheld for Social Security=$7049.4
Part 2:
Additional amount which the employer will contribute=$16264.2
Explanation:
Part 1:
Amount withheld for Social Security= $113700 * 6.2%=$113700 * 6.2/100
Amount withheld for Social Security=$7049.4
Amount withheld for Medicare=$632400 * 1.45%=$632400 * 1.45/100
Amount withheld for Medicare=$9169.8
Total amount withheld for Social Security and medicare=$7049.4+$9169.8
Total amount withheld for Social Security and medicare=$16264.2
Part 2:
The additional amount which the employer will contribute towards the FICA taxes is same as withheld by Coach Samson.
Additional amount which the employer will contribute=$7049.4+$9169.8
Additional amount which the employer will contribute=$16264.2
