Refer to Scenario 19.1 below to answer the question(s) that follow. SCENARIO 19.1: An individual earning $60,000 pays $12,000 in taxes. The marginal tax rate on any income earned above $60,000 is 25%. Refer to Scenario 19.1. When this person earns $70,000, her average tax rate is
A. 20.7%.
B. 22.5%.
C. 25%.
D. indeterminate from this information.
Answer: A
Economics
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Suppose a market basket of goods and services costs $1,000 in the base year and the consumer price index (CPI) is currently 110 . This indicates the price of the market basket of goods and services is now:
a. $110. b. $1,000. c. $1,100. d. $1,225.
Economics
The GDP deflator but not the CPI takes into account
a. The prices of imports that consumers buy b. Investment goods bought by businesses c. Goods bought by the government d. Both b. and c.
Economics
Is an efficient market allocation fair? Explain.
What will be an ideal response?
Economics
Economist Michael Kremer found that world growth rates fell as population increased
a. True b. False Indicate whether the statement is true or false
Economics