The marginal tax rate is the
A. total amount of taxes paid as a percentage of total income.
B. increase in taxes as a percentage of an increase in income.
C. sum of all individual tax rates.
D. tax rate paid by those with the lowest family incomes.
Answer: B
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For a single-price monopoly, price is
A) greater than marginal revenue. B) one half of marginal revenue. C) equal to marginal revenue. D) unrelated to marginal revenue. E) always less than average total cost when the firm maximizes its profit.
In recent U.S. history
A) GDP has been much higher than GNP. B) GNP has been much higher than GDP. C) the difference between GNP and GDP has been very volatile. D) there has been little practical difference between GNP and GDP.
If disposable income = $200 billion and the APS = 0.9, then
A) saving = $90 billion. B) saving = $45 billion. C) saving = $180 billion. D) saving cannot be determined.
The best number of workers for any employer to hire is that quantity in which:
a. the marginal revenue product equals the marginal factor cost. b. the marginal revenue product exceeds the marginal factor cost. c. total costs are minimized. d. total revenue is maximized. e. none of these