Automation Has Allowed Manufacturers to Increase Productivity and Cut Costs

question 12

True/False

Automation has allowed manufacturers to increase productivity and cut costs, which makes their products more competitively priced.

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Definitions:

IRS Form 940

A form used by employers in the United States to report their annual Federal Unemployment Tax Act (FUTA) tax.

Federal Unemployment Tax

A tax imposed on employers to fund state workforce agencies. Employers pay this tax to finance the unemployment compensation to workers who have lost their jobs.

Income Taxes

Taxes imposed by the government on the income generated by businesses and individuals.

Independent Contractors

Workers who provide services to a business under terms specified in a contract, not considered as employees of the company.