Use the Following Figure to Answer the Question : Figure

question 50

Multiple Choice

Use the following figure to answer the question : Figure 18-2 :
shows the demand and supply curves of labor.A per-unit tax imposed on the wage income of the employees shifts the supply curve of labor upward.
-Refer to Figure 18-2.The per-unit tax is this figure is being represented by the distance:

• A)OB.
• B)OA.
• C)AB.
• D)AC.

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Definitions:

Planned Economies

Economic systems where government agencies centrally plan and direct all major economic activities, assigning resources and determining outputs with the aim of achieving specific goals.

U.S. Firms

Companies or businesses that are registered, operate, or have their headquarters in the United States.

Bankrupt

A legal status of a person or entity that cannot repay debts to creditors and is thus subject to specific legal processes.

Life Expectancy

The average number of years an individual is expected to live, based on current mortality rates.