In a progressive income tax system
A. the average tax rate exceeds the marginal tax rate.
B. the marginal tax rate exceeds the average tax rate.
C. the tax rate depends solely on how long an individual has been in the labor force.
D. high income earners pay a lower percentage of their income in taxes than do low income earners.
Answer: B
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In recent years new automobile factories have opened in California and Ohio and closed in Detroit where the unemployment of automobile workers has increased. This unemployment could be decreased if
A) "moving costs" from Detroit to California and Ohio were reduced. B) information about the new jobs was made available to the unemployed workers at reduced cost. C) workers with the appropriate skills were relatively scarce in Ohio and California. D) all of the above.
A company’s annual payment to stockholders is called the
A. dividend. B. kickback. C. plowback. D. retained earnings.
What benefits are to be gained from countries producing according to the law of comparative advantage? What if a country is absolutely more productive in all goods?
Prosperity in the United States is evenly distributed across the 50 states.
Answer the following statement true (T) or false (F)