Adjusting for Inflation,the Real Minimum Wage Has Fallen Over the Last

question 54

True/False

Adjusting for inflation,the real minimum wage has fallen over the last 30 years.

---

Definitions:

Payroll

The total amount of wages, salaries, bonuses, and deductions a business pays to its employees.

FICA-OASDI Payable

The amount owed by an employer or employee for Social Security and Medicare taxes, to be paid to the IRS.

FUTA Payable

A liability account that records the amount owed by a company for the Federal Unemployment Tax Act contributions, payable to the federal government.

SUTA Payable

A liability account that records amounts owed for the state unemployment tax.