The average tax rate is defined as
A) total tax due/change in taxable income.
B) total tax due/total taxable income.
C) change in taxes due/change in taxable income.
D) change in taxes due/total taxable income.
Answer: B
You might also like to view...
The portfolio theories of money demand state that when income (and therefore, wealth) is higher, the demand for the money asset will ________ and the demand for real money balances will be ________
A) rise; higher B) rise; lower C) fall; higher D) fall; lower
GDP overstates the productive capacity of a country when:
a. economic bads like pollution are produced and then must be cleaned up. b. there is a sizable underground economy. c. nonmarket production represents a large portion of the economy. d. working conditions improve, allowing jobs to be completed safer and faster.
Through 2012, the most serious U.S. trough since the Great Depression was the one that occurred in
a. 1991. b. 2001. c. 1974–1975. d. 2008–2010.
Credit cards are considered to be part of the money supply.
Answer the following statement true (T) or false (F)