Answered

Discover the answers you need at Westonci.ca, a dynamic Q&A platform where knowledge is shared freely by a community of experts. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform. Discover detailed answers to your questions from a wide network of experts on our comprehensive Q&A platform.

True or False: With a minimum wage of $8.70, unemployment of unskilled workers is lower with the tax credit versus without it.

Sagot :

Parrain

Answer: True

Explanation:

Generally speaking, a tax credit would bring about a lower unemployment rate for unskilled labor as opposed to a situation where there is no tax credit.

A tax credit would reduce the amount of taxes that a company is to pay which would leave them with more income to reinvest into the business. This reinvestment will lead to the business having a higher production capacity such that it requires more workers so they will hire more workers, both unskilled and skilled thereby reducing the unemployment rate for both.

Thank you for trusting us with your questions. We're here to help you find accurate answers quickly and efficiently. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.