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Instruction 3-1
Use the following tax rates and taxable wage bases: Employees' and Employer's OASDI-6.2% both on $132,900; HI-1.45% for employees and employers on the total wages paid. Employees' Supplemental HI of 0.9 percent on wages in excess of $200,000 was not applicable.
Refer to Instruction 3-1. During 20--, Amanda Hines, president of Dunne, Inc., was paid a semimonthly salary of $7,100. Determine the following amounts.
Wage Differential
Wage differential refers to the variation in wages between individuals, occupations, locations, or sectors due to factors like skill level, demand, or cost of living.
Nonpreferred-Race Workers
Employees who are perceived or categorized as belonging to a racial or ethnic group that is less favored or discriminated against within a societal or organizational context.
Statistical Discrimination
A decision-making process that uses statistical or probability information on groups rather than individuals, leading to potential biases.
Long Run
The Long Run is a time period in economics during which all factors of production and costs are variable, allowing for full industry adjustment.
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