What would be the total annual salary and payroll tax expense for the employee, assuming the company receives IRS approval for its health care plan? Remember, contributions to an approved health care plan reduce the amount of wages subject to social security, Medicare, and federal income
taxes.
Salary
$95,000.00
Insurance
Tay
Taxable amount
Tax Rate
Social Security
$95,000.00 x
Medicare
$95,000.00 x
Federal unemployment $95,000.00 x
State unemployment
950od
Total expense for employee
* * * *
6.2%
1.45%
0.8%
5.4%
TOTAL SCORE: 0.38
Grace S2
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O

10. problems and applications q10 a market is described by the following supply-and-demand curves: qsqs = = 2p2p qdqd = = 300â’p300â’p the equilibrium price is $ and the equilibrium quantity is . suppose the government imposes a price ceiling of $90. this price ceiling is , and the market price will be $ . the quantity supplied will be , and the quantity demanded will be . therefore, a price ceiling of $90 will result in . suppose the government imposes a price floor of $90. this price floor is , and the market price will be $ . the quantity supplied will be and the quantity demanded will be . therefore, a price floor of $90 will result in . instead of a price control, the government levies a tax on producers of $30. as a result, the new supply curve is: qsqs = = 2(pâ’30)2pâ’30 with this tax, the market price will be $ , the quantity supplied will be , and the quantity demanded will be . the passage of such tax will result in .