The Demand for Labour Is a Derived Demand Because It

question 130

Multiple Choice

The demand for labour is a derived demand because it is derived from

• A) union pressure.
• B) the supply of labour.
• C) the demand for the output the labour produces.
• D) natural law.

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Definitions:

Progressive Tax

A taxation system where the tax rate increases as the taxable amount increases, typically structured to impose a heavier tax burden on higher-income earners.

Taxable Income

The portion of income that is subject to taxation after all allowances, deductions, and exemptions are factored in.

Total Tax

The sum of all the taxes levied by different levels of government on an individual or business.

Marginal Tax Rate

The rate at which the last dollar of income is taxed, indicating the impact of an additional dollar of income on the amount of taxes owed.