In 2018, the highest marginal tax rate was 37%. If Chesney is in the highest earnings bracket, what percent of her total income will she have to pay in taxes?
a. less than 37%
b. exactly 37%
c. more than 37%
d. none of these
a. less than 37%
You might also like to view...
Pick the true statement from your textbook:
A) Land has a cost. B) Fruit has a cost. C) Fertilizer has a cost. D) Only actions can have costs.
The long-run average cost curve is the relationship between the highest attainable average total cost and output when both the plant size and labor are varied
Indicate whether the statement is true or false
Which of the following makes it difficult to regulate a monopolistically competitive market?
A. It is difficult to assess the costs. B. It may stifle innovation if firms can’t make economic profit. C. There are many firms with different costs of similar products. D. All of the above are true.
Suppose Al, Betty, and Carl own the only fishing companies in your village. Suppose the market price today is $10 per fish. Suppose Al catches 4,000 fish with an average total cost of $7.50, Betty catches 6,000 fish with an average total cost of $6, and Carl catches 10,000 fish with an average total cost of $7 . How much would Betty's average total cost have to fall in order for her to make as
much total profit as Carl? a. $1 b. $2 c. $4 d. $5 e. Betty cannot make as much profit as Carl with only 6,000 fish.