Suppose the government imposes a tax of 10 percent on the first $40,000 of income and 20 percent on all income above $40,000 . What is the average tax rate when income is $50,000?
a. 20 percent
b. 15 percent
c. 12 percent
d. 10 percent
c
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Other things being equal, appreciation of the dollar
A) increases aggregate demand in the United States, and may decrease aggregate supply by reducing the prices of imported resources. B) increases aggregate demand in the United States, and may increase aggregate supply by reducing the prices of imported resources. C) decreases aggregate demand in the United States, and may decrease aggregate supply by increasing the prices of imported resources. D) decreases aggregate demand in the United States, and may increase aggregate supply by reducing the prices of imported resources.
The behavior of investment and real GDP in the United States after the 1990s
A) is not consistent with the two-period model with production. B) is consistent with the effects of an increase in the government deficit in the two-period model with production. C) is consistent with the effects of an increase in optimism about future total factor productivity in the two-period model with production. D) is consistent with the effects of a decrease in the government deficit in the two-period model with production.
In a long-run equilibrium in a perfectly competitive market, the average firm earns positive economic profits
a. True b. False Indicate whether the statement is true or false
Identify the correct statement regarding business ethics.
A. Business ethics seeks to proscribe those behaviors that maximize an organization's profit. B. Business ethics seeks to proscribe those behaviors that maximize an employee's productivity. C. Business ethics and organizational architecture are interdependent. D. Business ethics and organizational architecture are independent of each other.