This year, Abigail earned $15,000 and she paid 15 percent in income and payroll taxes. She qualified for Medicaid and food stamps. For every $100 that she earns, Abigail loses $35 in Medicaid benefits and $15 in food stamps. Abigail faces an effective marginal tax rate of

a. 15 percent.
b. 35 percent.
c. 50 percent.
d. 65 percent.


D

Economics

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Indicate whether the statement is true or false

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The monopoly producer

A. sets MU equal to P. B. sets MR = MC. C. has MC > MU. D. sets MR = P.

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You are the manager of a firm that sells its product in a competitive market at a price of $60. Your firm's cost function is C = 33 + 3Q2. The profit-maximizing output for your firm is:

A. 10. B. 6. C. 5. D. 3.

Economics

If you see a movie at a theater, the movie is:

A. an excludable good/service but nonrival in consumption. B. an excludable good/service and rival in consumption. C. a non-excludable good/service but rival in consumption. D. a non-excludable good/service and nonrival.

Economics