An increase in the income taxes on wages results in: a. the labor supply and demand...
An increase in the income taxes on wages results in:
| a. |
the labor supply and demand curves shifting left |
|
| b. |
the labor demand curve shifting left |
|
| c. |
the labor demand curve shifting right |
|
| d. |
neither the labor supply nor demand curves shifting |
|
| e. |
the labor supply curve shifting left |
Homework Answers
Answer
Option e
The taxes decrease the supply of labor because it discourages labors to work as the marginal benefit decreases.
It will increase wages and decrease quantity.
the demand curve will not affect by this, but the quantity demanded at new equilibrium decreases.
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