The marginal tax rate is
A. the percentage of all dollars of income paid in tax.
B. the percentage of the last dollar of income paid in tax.
C. the percentage of all dollars of income paid in tax and the percentage of the last dollar of income paid in tax.
D. the percentage of all taxable dollars of income paid in tax.
Answer: B
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Refer to Figure 15-9. What is the difference between the monopoly's price and perfectly competitive industry's price?
A) The monopoly's price is higher by $3.50. B) The monopoly's price is higher by $13. C) The monopoly's price is higher by $21. D) The monopoly's price is higher by $9.50.
When compared with other governments around the world, government spending in the United States as a percentage of GDP_____
a. is generally lower than similar countries b. is generally higher than similar countries c. is about average relative to similar countries d. is impossible to compute because of differences between countries
An association of producers such as OPEC that agrees to set common pricing or output goals is referred to as a
A) cartel. B) conglomerate. C) monopoly. D) partnership.
Historical demand curves are always suspect because their demand curves are likely to have shifted over time
a. True b. False Indicate whether the statement is true or false