Explain How Corporations Operate as the Core of the U

question 12

Essay

Explain how corporations operate as the core of the U.S.economy.How has the globalization of the economy made many corporations much larger? What are conglomerates? Look ahead to the world's economy at mid-century: Do you think large multinational corporations will dominate the world more than they do now? Is this good for the world's people? Why or why not?

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Definitions:

Payroll Register

A document that records detailed information about the compensation paid to employees, including wages, deductions, and net pay.

W-2 Forms

Official tax documents that employers send to employees and the IRS, reporting the employee's annual wages and the amount of taxes withheld from their paycheck.

Employer's Payroll Taxes

Taxes that employers are required to pay on behalf of their employees, including Social Security and Medicare taxes.

FICA-OASDI

Federal Insurance Contributions Act - Old Age, Survivors, and Disability Insurance; a payroll tax that funds Social Security and Medicare in the United States.