External forces in the general environment can affect retail stores like Walmart and Kroger by influencing their performance, operations, and profits. 5 external forces that can affect the retail industry: Technological Factors, Economic Factors, Political/Legal Factors, Social Factors, Environmental Factors.
External forces in the general environment can affect retail stores like Walmart and Kroger in various ways. These forces have the potential to influence their performance, operations, and profits. The following are some external forces that can affect the retail industry:
1. Technological Factors: Technological advancements have revolutionized the retail industry, improving shopping convenience, enhancing inventory management, and facilitating online shopping. Walmart and Kroger have adapted to technology, offering online shopping and in-store pickups.
2. Economic Factors: Economic factors such as inflation, interest rates, and unemployment rates can affect the retail industry's sales and profitability. In times of economic hardship, consumers often reduce their spending on non-essential items, and retail stores may have to adjust their pricing strategy to remain competitive.
3. Political/Legal Factors: Retail stores must comply with regulations and laws, such as minimum wage laws, consumer protection laws, and environmental regulations. Retailers like Walmart and Kroger have faced multiple lawsuits related to labor law violations, discrimination, and food safety violations.
4. Social Factors: Demographic changes, consumer preferences, and cultural changes can affect the retail industry. For instance, the demand for organic food has increased, and retailers like Walmart and Kroger have responded by offering organic produce.
5. Environmental Factors: Retailers have become more environmentally conscious in recent years, and customers expect them to adopt sustainable practices. Walmart and Kroger have implemented various initiatives aimed at reducing their carbon footprint, such as energy-efficient lighting and using eco-friendly packaging.
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Right now, there are people all over the world who are just like you. They're either lonely, they're missing somebody, they're depressed, they're hurt, they're scarred from the past, they're having personal issues no one knows about, they have secrets you wouldn't believe. They wish, they dream and they hope. And right now, they are sitting here reading these words, and I'm writing this for you so you dont feel alone anymore. Always remember, don't be depressed about the past, don't worry about the future, and just focus on today. If today's not so great don't worry! Tomorrow's a new chance. If you are reading this, be sure to share this around to make others feel better And God Loves you no matter who dosent . Have a nice day! :)
Answer:
why are you telling us this bro
Explanation:
Answer:NO ONE CARES
Explanation:
Explain how productivity, demand, and availability/supply affect the values attached to money payments.
Answer:
The law of supply and demand is an economic theory that explains how supply and demand are related to each other and how that relationship affects the price of goods and services. It's a fundamental economic principle that when supply exceeds demand for a good or service, prices fall. When demand exceeds supply, prices tend to rise.
There is an inverse relationship between the supply and prices of goods and services when demand is unchanged. If there is an increase in supply for goods and services while demand remains the same, prices tend to fall to a lower equilibrium price and a higher equilibrium quantity of goods and services. If there is a decrease in the supply of goods and services while demand remains the same, prices tend to rise to a higher equilibrium price and a lower quantity of goods and services.
The same inverse relationship holds for the demand for goods and services. However, when demand increases and supply remains the same, the higher demand leads to a higher equilibrium price and vice versa.
Supply and demand rise and fall until an equilibrium price is reached. For example, suppose a luxury car company sets the price of its new car model at $200,000. While the initial demand may be high, due to the company hyping and creating buzz for the car, most consumers are not willing to spend $200,000 for an auto. As a result, the sales of the new model quickly fall, creating an oversupply and driving down demand for the car. In response, the company reduces the price of the car to $150,000 to balance the supply and the demand for the car to reach an equilibrium price ultimately.
The law of supply and demand is an economic theory that explains how supply and demand interact and how this influences the pricing of products and services. When supply exceeds demand for an item or service, prices fall. This is a basic economic premise. Prices tend to rise when demand exceeds supply.
When demand is constant, the supply and prices of products and services have an inverse relationship. Prices tend to decrease to a lower equilibrium price and a greater equilibrium quantity of goods and services when supply for goods and services increases while demand remains constant.
When the supply of products and services falls while demand remains constant, prices increase to a higher equilibrium price and a reduced quantity of goods and services are produced.
• The demand for products and services has the same inverse relationship. When demand rises but supply stays constant, the increased demand results in a higher equilibrium price, and vice versa.
• Supply and demand fluctuate until a price equilibrium is reached. Assume a premium vehicle manufacturer sets the price of their new model at $200,000.
• While the initial demand for the car may be great due to the company's marketing efforts, most people are unwilling to spend $200,000 on a vehicle.
• As a result, sales of the new model plummet, resulting in an oversupply and lower demand for the vehicle.
• As a result, the corporation lowers the price of the car to $150,000 in order to balance supply and demand for the vehicle and eventually establish an equilibrium price.
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Gizmo Industries is currently selling for $79. It just paid its annual dividend of $7, which have consistently grown at a rate of 4.2%. What is the expected return of this stock
The expected return of Gizmo Industries stock is approximately 13.06%.
To find the expected return, we need to consider the current stock price ($79), the annual dividend ($7), and the dividend growth rate (4.2%).
The expected return of a stock can be calculated using the Gordon Growth Model, also known as the Dividend Discount Model. The formula for this model is:
Expected return = (Dividend / Stock price) + Dividend growth rate
In the case of Gizmo Industries, we can plug in the values:
Expected return = ($7 / $79) + 4.2%
Expected return = 0.0886 + 4.2%
Expected return = 8.86% + 4.2%
Expected return = 13.06%
This means that an investor can anticipate a return of 13.06% on their investment in the company, based on the current stock price, annual dividend, and dividend growth rate. Keep in mind that this is an estimate, and the actual return may vary depending on market conditions and other factors.
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4A: Economic Systems Assessment
Which of the following is NOT one of the three basic questions of economics when looking at economic systems?
How should the goods be produced?
O What goods should be produced?
O What monetary system will be used to pay for goods?
O Who will have access/get to consume the goods?
he answer to the question "Which of the following is NOT one of the three basic questions of economics when looking at economic systems?" is option C - "What monetary system will be used to pay for goods?"
When studying economic systems, the three basic questions of economics are typically considered. These are:
1. What goods should be produced?
2. How should the goods be produced?
3. Who will have the access/get to consume the goods?
Option C - "What monetary system will be used to pay for goods?" is not one of the three basic questions of economics. While it is important to consider the monetary system in any economic system, it is not one of the fundamental questions that need to be addressed when looking at how an economy operates. Therefore, option C is the answer to the question.
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Given the two person general sum transferable utility game (A, B) where = 82 49 41 /51 48 70 70 64 A = 28 54 49 and B = 31 39 95/ 50 \64 26 41. a) Check whether there are any pure strategic equilibria points. If exist, determine whether these points are stable or not. b) Find safety levels of players. c) Determine the pure strategies which result in maximum total payoff. If they agree to play with these strategies, how do they share the total payoff, assuming that they are not aware of 'threat strategies' (disagreement strategies) and they ignorantly act on the basis of safety levels. d) Determine how the total payoff, mentioned in previous part, should be shared among the players, based on their threat strategies.
In the given two-person general sum transferable utility game, we analyze several aspects. Firstly, we check for pure strategic equilibria points and determine their stability. Then, we find the safety levels of the players. Next, we identify the pure strategies that result in the maximum total payoff and discuss how the players would share the total payoff, assuming they are not aware of threat strategies and act based on their safety levels. Lastly, we consider the sharing of the total payoff based on the players' threat strategies, although the question does not provide information about the threat strategies.
In this game, there are no pure strategic equilibria points where neither player can unilaterally improve their payoff. As a result, there are no stable equilibria points.
Player A's safety level is 41, which means they can guarantee a minimum payoff of 41 regardless of the opponent's strategy. Player B's safety level is 26, which is their minimum guaranteed payoff.
The pure strategies that result in the maximum total payoff are A's strategy of 49 and B's strategy of 95. If they agree to play with these strategies, the total payoff would be 144. However, assuming they are not aware of threat strategies and act based on their safety levels, A would receive 41 (their safety level) and B would receive 26 (their safety level).
Sharing the total payoff based on the players' threat strategies cannot be determined without information about their specific threat strategies. Therefore, we cannot determine how the total payoff would be shared among the players in this case.
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Which of these is a nonstore retailer?
A. Nail Salon
B. Supermarket
C. Coffee Shop
D. Catalog
Answer:
D. Catalog
Explanation:
Its not a store.
Direct sales of livestock often result in which of the following additional expenses?
A.
Fees for agents
B.
Yardage fees
C.
A substantial loss due to the fact that livestock generally do not travel well
D.
The cost of feeding mature livestock while waiting for the rest of the herd to mature
Direct sales of livestock often result in yardage fees, which are the charges for keeping livestock at feedlot or other facility until they can be sold or shipped.
What are direct sales?Direct sales is a business model in which products or services are sold directly to consumers without the involvement of a retail middleman. This means that the manufacturer or service provider sells directly to the end user through various methods such as door-to-door sales, in-home parties, or through online sales platforms. Direct sales allow for a more personalized shopping experience for the consumer and can often result in cost savings for both the manufacturer and the consumer. Direct sales companies typically use a network of independent sales representatives who are compensated for their sales efforts through commissions and bonuses. These representatives can also recruit and manage their own sales teams, creating a network marketing structure. Direct sales have become increasingly popular due to advancements in technology and the rise of e-commerce.
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Ever the risk taker, max has invested in another of sam’s companies. this time, he pays $3 million for 30 percent of specialstuff (ss). calculate the net payout
Max's net payout for his 30 percent ownership in SpecialStuff would be $1.5 million, assuming the company earns a net profit of $5 million and distributes the profits proportionally among the shareholders.
To calculate the net payout for Max's investment in SpecialStuff (SS), we need to consider the percentage of ownership Max has in the company and the potential returns or profits generated by SS.
Max paid $3 million for a 30 percent stake in SpecialStuff, which means he values the company at $10 million ($3 million divided by 30 percent). This $10 million valuation represents the entire worth of SpecialStuff.
Assuming SpecialStuff is successful and generates a profit, Max's 30 percent ownership entitles him to 30 percent of the company's profits. Let's assume SpecialStuff earns a net profit of $5 million.
To calculate Max's net payout, we multiply his ownership percentage (30 percent) by the net profit ($5 million):
Net Payout = Ownership Percentage × Net Profit
= 0.30 × $5 million
= $1.5 million
Therefore, if SpecialStuff earns a net profit of $5 million, Max would be entitled to a net payout of $1.5 million based on his 30 percent ownership stake. It's important to note that this calculation assumes the entire net profit is distributed among the shareholders in proportion to their ownership percentages.
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1.
There are three main credit reporting bureaus -- Equifax, Experian, and TransUnion. How
frequently can you request and receive a free credit report from each bureau?
Every Credit user is entitled to a free credit report every 12 months (1 years) from either of Equifax, Experian, or TransUnion.
What are credit reporting agency?These are agency that maintains only an historical credit information on individuals and businesses.
The maintained historical credit information helps in preparation of the credit report and score of all individuals and businesses in United states..
In U.S., the three main credit reporting bureaus includes the Equifax, Experian and TransUnion.
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What is something that will not help you get a higher credit limit?
A: Paying off the balance of the credit card each month
B: Asking the banking company for a higher limit on your credit card
C: Maxing out the credit card and only making the minimum payment each month
D: Making more money at your job (More personal income)
Maxing out the credit card and only making the minimum payment each month is something that will not help you get a higher credit limit. A credit limit is the most money you are permitted to spend on a credit card or line of credit by a lender.
If a credit card company grants you a credit limit of $2,500, that is the most you may ever have charged to the card payment . If you charge $1,900 to your card, you will have $600 left over that you can use without paying a fee or being restricted from using the card limit further.
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The type of interest earned on a deposit account that is calculated on both the principal deposit
amount and on any previously earned interest is called:
A simple interest
B compound interest
C variable interest
D exchange rate
For a college student who wishes to calculate the true costs of going to college, the costs of room and board Group of answer choices should be counted in full, regardless of the costs of eating and sleeping elsewhere. should be counted only to the extent that they are more expensive at college than elsewhere. usually exceed the opportunity cost of going to college. plus the cost of tuition, equals the opportunity cost of going to college.
Answer:
should be counted only to the extent that they are more expensive at college than elsewhere
Explanation:
The true cost of any type of commodity means the hidden cost or the negative cost i.e. external that added at the time when the pricing of the products are to be done. Also it varies with the market price and it is differently charged to decrease the misuse
So for determining the true cost the college student should keep in mind that the room cost and the board could not go below the market price
hence, the option b is correct
Jeannie started a new business on june 7, 2021. She incurred $68,000 in start-up costs. She will deduct the maximum allowed on her first tax return and then amortize the remainder. What amount will she deduct as a start-up expense for the current year?.
In the current year the amount that Jeannie would have to deduct as a startup expense is going to be $5000.
What is a startup expense?Any expense incurred when launching a new business is considered a startup cost. Equipment, incorporation fees, insurance, taxes, and payroll will all be part of the startup costs. Despite the fact that startup expenses will vary depending on your industry and business type, an expense that applies to one firm might not to another.
The tax authorities permit a claim on deduction on expenses up to $5,000 for an individual starting corporation. As a result, the remaining $63,000 will be amortized over the following 180 months, or 15 years.
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Human Resources Planning and job analysis are two of the five separate actives of HRM, what are the remaining three? O job description, job specification, and external recruiting O recruiting, selection, and job description. O orientation, planning, and selection recruiting, selection, and orientation
The remaining three activities of HRM are recruiting, selection, and orientation. So the correct answer is recruiting, selection, and orientation. Thus, option B is the correct option.
Recruiting, selection, and orientation are three vital activities of Human Resource Management (HRM). Recruiting involves attracting and sourcing potential candidates for job vacancies within an organization. This process may include job posting, advertising, and utilizing recruitment agencies. Selection is the process of evaluating and choosing the most suitable candidates for the job through methods such as interviews, assessments, and reference checks.
Once the candidates are selected, the next step is orientation, which involves introducing new employees to the organization's culture, policies, procedures, and job responsibilities. Orientation programs aim to help new hires settle in, understand their roles, and become productive members of the organization. These activities collectively contribute to effective HRM practices and help organizations build a capable and engaged workforce.
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answer the questions that follow, Groundnut (in tonnes) 0 500,000 750,000 1,200,000 1,500,000 1,800,000 2,000,000 of commodides a are cotton and groundnut. Use the Cotton (in tonnes) 1,500,000 1,250,000 1,000,000 800,000 500,000 350,000 0 a) Define the concept Production Possibility Curve (PPC). b) What is the opportunity cost of producing the following: i. 800,000 tonnes of cotton ii. 1,500,000 tonnes of cotton iii. 1,800,000 tonnes of groundnut iv. 2,000,000 tonnes of groundnut Anut Possibilities A B C D E F H
a) Production Possibility Curve (PPC): Represents combinations of goods that can be produced with given resources.
b) Opportunity cost of:
i. 800,000 tonnes of cotton: 500,000 tonnes of groundnut.
ii. 1,500,000 tonnes of cotton: 1,000,000 tonnes of groundnut.
iii. 1,800,000 tonnes of groundnut: 1,250,000 tonnes of cotton.
iv. 2,000,000 tonnes of groundnut: 1,500,000 tonnes of cotton.
a) The Production Possibility Curve (PPC) represents the different combinations of two goods that can be produced using given resources and technology. It shows the maximum output of one good that can be produced for each level of production of the other good, assuming efficient allocation of resources.
b) To calculate the opportunity cost, we compare the quantities of the other good that must be given up to produce a certain quantity of a specific good.
i. To produce 800,000 tonnes of cotton, we can refer to the Cotton values:
The opportunity cost would be 500,000 tonnes of groundnut (corresponding to 800,000 tonnes of cotton in the table).
ii. To produce 1,500,000 tonnes of cotton, the opportunity cost would be 1,000,000 tonnes of groundnut (corresponding to 1,500,000 tonnes of cotton in the table).
iii. To produce 1,800,000 tonnes of groundnut, we can refer to the Groundnut values:
The opportunity cost would be 1,250,000 tonnes of cotton (corresponding to 1,800,000 tonnes of groundnut in the table).
iv. To produce 2,000,000 tonnes of groundnut, we can refer to the Groundnut values:
The opportunity cost would be 1,500,000 tonnes of cotton (corresponding to 2,000,000 tonnes of groundnut in the table).
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Prompt
What is liability?
Read More >>
Answer:
jobless
Explanation:
someone who depend on other people
2. Which of the following is not one of the common
activities of all businesses?
a. producing goods and services
b. employing and training personnel
c. marketing goods and services
d. maintaining business records
Answer:
A
Explanation:
Answer:
it might be d
Explanation:
Its d because business records are really not common activities of all business
Par-value-bond F has a modified duration of 9. Which one of the following statements regarding the bond is true? Group of answer choices If the market yield decreases by 1%, the bond's price will increase by $60. If the market yield increases by 1%, the bond's price will increase by $90. If the market yield increases by 1%, the bond's price will decrease by $60. If the market yield increases by 1%, the bond's price will decrease by $90.
The correct answer is: If the market yield increases by 1%, the bond's price will decrease by $90.
Modified duration is a measure of the sensitivity of a bond's price to changes in interest rates. It gives an estimate of the percentage change in a bond's price for a 1% change in yield.
The formula for the approximate percentage change in the price of a bond for a change in yield is:
% change in price = - modified duration x change in yield
Since the bond's modified duration is 9, we can estimate that for a 1% increase in market yield, the bond's price will decrease by approximately 9%.
If we assume that the bond's par value is $1,000, then the dollar value of the price decrease will be:
$90 = 9% x $1,000
Therefore, the correct statement is: If the market yield increases by 1%, the bond's price will decrease by $90.
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Question 1 of 10 If you make a plan to get a certain amount of a project done each day, what skill have you demonstrated? A. Time management B. Punctuality O C. Moral standards D. Integrity
Answer: A
Explanation: not sure, but i think its correct
make a budget of 2000 dollars for a grade six pupil
Answer:
Spend half save half
Explanation:
how and when does a contractor performing work associated with a 203(k) loan receive funds from the lender?
The borrower's lender uses escrowed funds to pay the contractors in a series of draws. The lender deposits the money for repairs and improvements into such an escrow account at closing.
What is a brief definition of funds?
A fund is a collection of funds set aside for a certain objective. A fund can be created for a variety of objectives, such as the construction of a new civic center by the municipal government, the awarding of scholarships at a college, or the payment of customer claims by an insurance company.
What do funds in finance mean?
Funds are collective investments that help you diversify your total risk by pooling your money and the money of other investors and investing it in a variety of underlying investments.
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A(n) _____ organization depends heavily on an informal structure of employee networks.A. hierarchicalB. authoritativeC. mechanisticD. bureaucraticE. organic
An informal structure of employee networks is an important part of an organic organization.
How does informal organization work?The social structure that connects people and dictates how they work together in practice is called the informal organization. Work gets done and relationships are built through the sum of behaviors, interactions, norms, and personal/professional connections.
What's the significance of informal structures?The fundamental goal of informal organizations is to uphold people's cultural values. People always feel connected when they are able to socially associate with one another. As a result, members' social satisfaction is another function of informal organizations.
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A mechanic charged $220. 28 to repair a car. The price included charges for 3 hours of labor and $126. 53 for parts. How much does the mechanic charge per hour for labor?.
Answer:
31.25 is the hourly rate of labor
Explanation:
220.28 - 126.53 = 93.75
93.75 is the total labor price
93.75/3 = 31.25
Stephen owns a chemical plant. He is glad that his primary stakeholders are satisfied with the company’s growth. However, he is concerned about pleasing the secondary stakeholders. How can he ensure the welfare of secondary stakeholders?
By employing a manufacturing procedure that complies with all applicable state and federal regulations, Stephen is able to guarantee the well-being of the secondary stakeholders.
Who is referred to as a secondary stakeholder?Secondary stakeholders are typically external parties (such as the general public, communities, activist groups, business support groups, and the media) who, despite not being directly involved in the financial operations of the company, nevertheless have an effect on those decisions or have the potential to do so.
Stephen ought to employ a manufacturing procedure that complies with all applicable laws at the local, state, and federal levels if he wishes to ensure that secondary stakeholders are treated well.
As a result, Stephen can use a manufacturing procedure that complies with all state and federal regulations to ensure the well-being of the secondary stakeholders.
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Business Operations Management Week 11 Tutorial 9 Worksheet Planning and Control + Question 1+ Planning and control activities include loading, sequencing, scheduling, and monitoring and control. → Select a company (e.g., coffee shop, burger restaurant, hair salon, $2 shop, sushi bar, fast food restaurant) and explain how these planning and control activities to be adopted to a company. + Capacity Management + Question 2+¹ The decisions taken by operations managers in devising their capacity plans will affect several different aspects of performance(e.g., costs, revenues, working capital, quality or services, speed of response to customer demand, dependability of supply, flexibility).
Question 1: Planning and control activities are an essential aspect of the operations management of any organization. The four key elements of these activities include loading, sequencing, scheduling, and monitoring and control.
Question 2: Capacity management is an important aspect of the operations management of an organization.
Question 1: These activities are critical in ensuring the effective utilization of resources, meeting customer demands and quality expectations, and reducing costs.
In the case of a coffee shop, for instance, planning and control activities will include determining the number of employees required to meet customer demands at specific times of the day, sequencing tasks such as taking orders, preparing drinks, and handling cash, and scheduling tasks to ensure that the employees work efficiently.
Monitoring and control activities will involve tracking employee performance, the quality of coffee and other drinks served, and customer satisfaction levels to make timely interventions where necessary.
Question 2: The capacity plan helps to determine the amount of resources required to produce goods or services in a given period, the levels of inventory required, and the resources that will be needed to meet demand.
The decisions taken by operations managers in devising their capacity plans will affect several different aspects of performance, such as costs, revenues, working capital, quality of services, speed of response to customer demand, dependability of supply, and flexibility.
These decisions will, therefore, have a direct impact on the profitability of the organization. Capacity management involves analyzing market trends, forecasting demand, and identifying the resources required to meet this demand.
Once this is done, a capacity plan is created, which outlines how the resources will be utilized to achieve the desired output levels. In conclusion, operations managers must be careful when making capacity decisions since they have a significant impact on the overall performance of the organization. 100 words.
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If a vertical pipe is to be welded in a fixed position, the welding technique recommended is the A. backhand technique. B. forehand technique. C. overhead technique. D. multilayer technique.
The most suitable welding technique to be used for vertical pipe fixed positions is the Overhead technique. This is one of the basic welding positions, which is usually used to weld cylindrical objects such as pipe or tanks. The answer is C. overhead technique.
In this position, the pipe is placed horizontally, and the welding torch is operated from the top, making the overhead weld possible. The Overhead welding position is used when welding the top of a surface with a bottom-up welding progress. This position presents a challenging environment, but with a properly prepared weld joint, it is still manageable. In a vertical position, this weld is much harder than the standard positions. In overhead welding, the welder must control gravity to ensure that the filler metal doesn't fall out of the joint.
Vertical pipe welding is not easy because of the position of the pipe. A vertical pipe has to be welded from the top and downward, or from the bottom upwards, requiring the welder to be on an awkward position, which is not easy to maintain while welding. However, there are four types of welding positions, which can make it easier for the welder to weld the vertical pipe. They include flat, horizontal, vertical, and overhead positions.
The overhead welding position is best suited to weld cylindrical objects, such as tanks and pipes, because the object is placed horizontally on a surface, and the welding torch is operated from the top. This technique is mainly used to weld the top of a surface with a bottom-up welding progress. This position presents a challenging environment, but with a properly prepared weld joint, it is still manageable. In a vertical position, this weld is much harder than the standard positions.
In conclusion, the overhead welding technique is the most suitable welding technique for vertical pipe fixed positions. Welders should ensure that they are knowledgeable in all types of welding positions so that they can use the best technique to make a perfect weld joint.
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The economy of the United States is BEST described as
A. noncompetitive
B. socialistic
C. government-owned
D. market-based
E. not-for-profit
Answer:
i believe the answer is b
Explanation:
because the us economy is best described as mixed ( capitalism & socialism) so i think its b
Which of the following is most likely to produce scientific evidence about a theory?
a. an economist employed by the AFL/CIO doing research on the impact of trade restrictions on workers' wages
b. a radio talk show host collecting data on how capital markets respond to taxation
c. a tenured economist employed at a leading university analyzing the impact of bank regulations on rural lending
d. a lawyer employed by General Motors addressing the impact of air bags on passenger safety
When the economist is employed for the university so it affects the bank regulations. This represent the generation of the scientific evidence related to the theory.
The following information should be considered
The tenured economist should give scientific proof related to the theory. In this, the primary data is collected & then transform into the theoryIn option a, only do the research. The rest of the options does not give scientific evidence.Therefore we can conclude that option c is correct.
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CAN SOMEONE PLEASE HELP ME WITH A WORKSHEET AND IF YOU CANT HELP DO NOT ANSWER PLEASE!!!!!!!
Answer:
sure
Explanation:
The Federal Insurance Contributions Act provides retirement, disability, survivorship, and medical benefits to qualified workers. Laws require employers to withhold _____ taxes from employees' pay to cover costs of the system.
The Federal Insurance Contributions Act provides retirement, disability, survivorship, and medical benefits to qualified workers. Laws require employers to withhold FICA taxes from employees' pay to cover costs of the system.
What is FICA tax?On earnings, the FICA tax includes a 6.2 percent Social Security tax and a 1.45 percent Medicare tax. Only the first $142,800 in earnings are subject to Social Security tax in 2021.
Earnings exceeding $200,000 for single filers/$250,000 for joint filers may be subject to a 0.9 percent Medicare tax.
Thus, it is FICA tax.
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