Freedom Inc. has 12 employees within Denver City and County. All of the employees worked a predominant number of hours within the city. The employees earned $9.60 per hour and worked 160 hours each during the month. The employer must remit $4.00 per month per employee who earns more than $500 per month. Additionally, employees who earn more than $500 per month must have $5.75 withheld from their pay. Required: What is the employee and employer Occupational Privilege Tax for these employees

Employee occupational privilege tax  for employees is $69

Employer occupational privilege tax  for employees is $48

Explanation:

Employees earned $9.60 per hour

Total number of working hours = 160 hours

Earning per employee = $9.60 × 160 = $1,536

The following is the calculation for amount withheld from employees.

All the employees are earning above the threshold limit of $500. and are liable to OPT.

Number of employees = 12

total amount with held from employees = 12 × $5.75 = $69

total amount to be paid by employer =12 × $4.00 = $48

                    Occupational Privilege tax

Employee$69

Employer$48

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

the correct answer is:     [c]:     " cyclical unemployment " .