The marginal tax rate refers to ______.
a. taxes applied to income from sources other than wages
b. total taxes paid divided by total income
c. the rate paid on the last dollar of income
d. the smallest percentage of income a person has to pay in taxes
c. the rate paid on the last dollar of income
You might also like to view...
An important foundation of the new growth theory is that
A) we will get more technological advances when the rewards for producing them are greater. B) the growth rate of the capital stock is more important than the growth rate of new knowledge in generating economic growth. C) we will get more technological advances the more the government is involved. D) improvements in labor productivity are poor measures of technological growth.
The law that established the Federal Reserve System is the _____
a. Federal Reserve Act of 1913 b. National Banking Act of 1863 c. Banking Act of 1933 d. National Banking Act of 1813 e. Federal Reserve Act of 1963
In its function of controlling the money supply, the Fed does which one of the following?
a. Controls the money supply. b. Clears checks. c. Regulates banks. d. Holds gold belonging to foreign governments. e. All of these.
Which of the following statements best describes price ceilings?
a. A price ceiling that is set at a relatively high level is nonbinding. b. A price ceiling that is set at a relatively low level is nonbinding. c. A price ceiling that is set at a relatively high level will have no practical effect unless the equilibrium price falls below the price ceiling. d. A price ceiling that is set at a relatively low level will have no practical effect unless the equilibrium price soars high enough to exceed the price ceiling.