If you pay $3,000 in taxes on an income of $28,000, and $4,450 in taxes on an income of $38,000, what is your marginal tax rate? Show your work
What will be an ideal response?
Marginal tax rate = ($4,450 - $3,000 )/($38,000 - $28,000 ) = 0.145 or 14.5 percent.
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Refer to Figure 1A.2. The slope of the curve
A) is positive. B) is negative. C) is zero. D) changes along the curve.
In the Keynesian model, suppose the Fed sets a target for the real interest rate. If the IS curve shifts to the left, and the Fed wants to keep output unchanged
A) taxes will increase. B) the money supply will decline. C) the real interest rate will decrease. D) taxes will decrease.
Which of the following is true if the opportunity cost of producing a particular good is less than its accounting profit?
a. Economic profit is zero. b. Economic profit is negative. c. Economic profit is positive. d. Economic profit cannot be determined.
From 2013 to 2014, the CPI for medical care increased from 150 to 159 . What was the inflation rate for medical care?
a. 5.7 percent b. 6.0 percent c. 9.0 percent d. 59.0 percent