Write a Statement That Creates a Constant Variable Named TAX_RATE

question 9

Essay

Write a statement that creates a constant variable named TAX_RATE.The tax rate is 8.25%.

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Definitions:

Workersʹ Share

The portion of total income in an economy that is paid to labor.

Total Tax Collections

The aggregate amount of taxes collected by a government from various sources during a specified period.

Payroll Tax

Obligations imposed on both employers and employees, frequently measured as a segment of the payroll.

Equilibrium Wage Rate

The wage rate at which the quantity of labor demanded equals the quantity of labor supplied in the market.