Unions Raise Wages By

question 85

Multiple Choice

Unions raise wages by:

• A) increasing demand for labor in the industry.
• B) decreasing supply of labor in the industry.
• C) increasing employment in the industry.
• D) putting price controls on wages in the industry.

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Definitions:

Progressive Tax Structure

A tax system where the tax rate increases as the taxable amount increases, leading to higher earners paying a larger percentage of their income in taxes.

Marginal Rates

These are the tax rates that apply to each additional dollar of income, used in a progressive tax system where tax rates increase as income rises.

Average Rates

The mean amount of a rate, such as interest or tax rate, calculated by totaling several rates and dividing by the number of rates.

Taxable Income

The portion of income that is subject to tax after all deductions and exemptions have been applied according to tax law.