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Author Question: Refer to the information provided in Figure 19.1 below to answer the question(s) that follow. Refer ... (Read 4 times)

hbsimmons88

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Question 1

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 the payroll tax, this labor market ________ at a wage of $7.00 and employment of 800 workers.


◦ was employing too many workers
◦ was in equilibrium
◦ was employing too few workers
◦ was paying too high a wage rate

Question 2

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












Refer to Figure 19.1. The payroll tax imposed initially


◦ reduced the equilibrium wage rate by $5 per hour.
◦ increased the equilibrium wage rate by $3 per hour.
◦ reduced the equilibrium wage rate by $3 per hour.
◦ did not change the equilibrium wage rate.


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Marked as best answer by hbsimmons88 on Apr 19, 2019

ErinKing

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