The marginal income tax rate is equal to
A. the change in the tax payment divided by the change in income.
B. the percent of total income that goes to taxes.
C. the average tax payment divided by the total tax payment.
D. the total tax payment divided by total income.
Answer: A
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Which of the following will shift the aggregate demand curve to the left?
A. The government increases spending on education. B. Income taxes are lowered. C. Foreign economies fall into recession, reducing their demand for domestic exports. D. Consumers become optimistic about the future.
What is the shape of a monopolist's demand curve and marginal revenue curve?
What will be an ideal response?
A conservative who was opposed to an increase in the size of the government sector but believed in the Keynesian approach to aggregate demand management would most likely favor which of the following expansionary policies?
a. increase taxes b. decrease taxes c. increase government spending d. decrease government spending
A patent gives a firm the power to charge a price that:
A. Is below equilibrium B. Is higher than marginal cost C. Increases the consumer surplus D. Results in overproduction of a product