If you pay $400 in taxes when you earn $10,000 and $600 in taxes when you earn $12,000, you are subject to a marginal tax rate of
A) 4%.
B) 5%.
C) 6%.
D) 8%.
E) 10%.
E
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Refer to Table 8-13. Nominal GDP for Vicuna for 2013 equals
A) $4,920. B) $5,100. C) $5,300. D) $5,850.
Assume there is an increase in the price of electricity (which is the result of a decrease in the supply of electricity), and electricity and natural gas are substitutes
How would this affect the demand for natural gas, and what would happen to the equilibrium price and quantity of natural gas?
If Marginal Cost (MC) is higher than Average Cost (AC), average cost is
a. falling b. rising c. constant d. none of the above
In response to an increase in AD: a. The price level will increase more in the long run than in the short run
b. Real output will increase more in the long run than in the short run. c. Both the price level and real output will increase more in the long run than in the short run. d. Neither the price level nor real output will change in the long run.