The Total Efficiency Units of Labor in an Economy Increases

question 60

Multiple Choice

The total efficiency units of labor in an economy increases if ________.

• A) each worker earns a lower wage
• B) each worker becomes more productive
• C) the average number of hours worked by each worker decreases
• D) the amount of capital available to each worker diminishes

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Definitions:

Federal Unemployment Tax

A tax paid by employers to fund the federal government's oversight of the state unemployment insurance programs.

Copy A

This term is often associated with tax forms, where Copy A is the official part of a form sent to a tax authority, like the IRS, detailing financial information.

Form W-2

A tax form used in the United States to report wages paid to employees and the taxes withheld from them.

Wages

Compensation received by employees for services performed, usually based on hours worked or a fixed salary.