In Determining Who Bears the Burden of the Social Security

question 31

Multiple Choice

In determining who bears the burden of the social security tax,it is important to consider:

• A)the number of workers employed.
• B)the way it is imposed on employers and employees.
• C)the supply elasticity of labor.
• D)the total labor hours supplied by each worker.

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Definitions:

Minimum-wage Laws

Legislation that sets the lowest hourly rate of pay that an employer can legally pay their workers, intended to protect workers from unduly low pay.

Working Poor

Individuals who have employment but whose earnings are not sufficient to meet the poverty line or standard living costs.

Libertarians

Libertarians advocate for minimal government intervention in personal and economic affairs, emphasizing individual liberty and voluntary association.

Equal Opportunities

The principle that all individuals should have the same opportunities to advance socially and economically, without facing discrimination or bias.