Author Question: Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. Refer ... (Read 7 times)

ETearle · **on:** Apr 19, 2019

Question 1

Firms may react to a payroll tax by

◦ substituting labor for capital.
◦ increasing their output.
◦ shifting to more capital intensive techniques.
◦ increasing workers' wages.

Question 2

Refer to the information provided in Figure 19.1 below to answer the question(s) that follow.

Refer to Figure 19.1. Prior to the imposition of a payroll tax, this labor market was in equilibrium at a wage of ________ and employment of ________ workers.

◦ $5.00; 500
◦ $7.00; 800
◦ $10.00; 700
◦ $12.00; 650

sarahccccc · **Reply #1 on:** Apr 19, 2019

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