The Amount of Revenue That Exceeds the Total Costs of Production

question 20

Multiple Choice

The amount of revenue that exceeds the total costs of production is called a firm's ________.

• A) total revenue
• B) profits
• C) marginal revenue
• D) marginal costs
• E) variable revenue

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Definitions:

Unemployment Taxes

Taxes imposed on employers by the government, intended to fund unemployment benefits for workers who have lost their jobs.

FUTA Tax Rate

The FUTA (Federal Unemployment Tax Act) Tax Rate is the percentage of taxable income employers are required to pay to fund state workforce agencies.

SUTA Tax Rate

The state unemployment tax rate, which employers must pay to fund the state's unemployment insurance program.

Unemployment Taxes

Taxes paid by employers to fund unemployment insurance programs, varying by state and based on the amount of wages paid to employees.