Refer to Scenario 19.2 below to answer the question(s) that follow.SCENARIO 19.2: An individual earning $40,000 pays $3,200 in taxes. The marginal tax rate on any income earned above $40,000 is 20%.Refer to Scenario 19.2. When this person earns $60,000, her average tax rate is
A. 12%.
B. 14%.
C. 20%.
D. indeterminate from this information.
Answer: A
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Why is the line between frictional and structural unemployment sometimes hard to draw?
What will be an ideal response?
In practice, oligopolistic markets are:
A. fairly common. B. very rare. C. forbidden by the government. D. usually protected by the government.
Which of the following examples would most likely involve a person earning minimum wage?
a. Fifty-year-old Koki works as marketing specialist for 20 years. b. Twenty-year-old Catherine works as an office assistant for a large corporation. c. Fifteen-year-old Sean works as a caddy while his parents earn $100,000 a year. d. Thirty-year-old Tamar works in a factory while her husband teaches high school.
The Federal Trade Commission is responsible for enforcing
A. interstate commerce. B. health care. C. antitrust law. D. communications law.