Some Provinces Require Additional Termination Pay When Mass Layoffs Occur

question 57

Multiple Choice

Some provinces require additional termination pay when mass layoffs occur.The amount of additional pay depends on which of the following?

• A) The level of unemployment in the region
• B) The employee's length of service
• C) The time of year
• D) The number of employees being laid off
• E) The reasons for the layoff

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Definitions:

Income Inequality

The unequal distribution of income among individuals or households within a population.

Goods And Services

The physical items (goods) and activities or benefits (services) that fulfill consumer needs and wants.

Progressive Tax

At the individual level, a tax whose average tax rate increases as the taxpayer’s income increases. At the national level, a tax for which the average tax rate (= tax revenue/GDP) rises with GDP.

Average Tax Rate

Total tax paid divided by total taxable income or some other base (such as total income) against which to compare the amount of tax paid. Expressed as a percentage.