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

Sagot :

Parrainidn

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.

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