Most of a Tax Hike Will Be Paid by Workers

question 11

Multiple Choice

Most of a tax hike will be paid by workers if the demand for labor is ________ and the supply of labor is ________.

• A) elastic; inelastic
• B) elastic; elastic
• C) inelastic; inelastic
• D) inelastic; stable
• E) elastic; stable

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Definitions:

Fortune 5,000 Companies

An expanded reference to the commonly known Fortune 500 list, hypothetically including a larger number of top-performing companies in terms of revenue.

Profit Motive

The driving force behind business activities aimed at generating financial gain or profit.

Very Large Organizations

Entities characterized by extensive operations, significant employee counts, and substantial market influence, typically operating on an international scale.

Ideas Marketed

The process of promoting and selling concepts, innovations, or intellectual properties to a target audience.