The following data represent a personal income tax schedule. Answer the next question on the basis of this information.Taxable IncomeTotal Tax$15,000$1,50030,0003,50060,0009,000120,00025,000If income increases from $15,000 to $30,000, the marginal tax rate is
A. 10.0%.
B. 18.3%.
C. 13.3%.
D. 26.6%.
Answer: C
You might also like to view...
If Happy Feet chooses to Ad and Best Nails then chooses to Ad, Happy Feet earns ________ million in net profit and Best Nails earns ________ million.
Happy Feet wants to prevent Best Nails from entering the nail salon market. The above game tree illustrates the different strategies and corresponding payoffs for the two firms. Both Happy Feet and Best Nails have the same strategies of advertising (Ad) or not advertising (No Ad). The payoffs represent net profit in millions.
A) $4; $1
B) $1; $4
C) $5; $1
D) $2; $3
If a pair-wise majority vote was held and the voters' preferences are shown in the table, assuming public zoo and transportation was the first pair to be voted on, which voter will be happiest with the outcome?
A. Bob
B. Carlo
C. Abby
D. Abby and Bob will be equally happy.
Asymmetric information includes the concepts of
A) moral hazard transfer costs. B) adverse selection and public goods. C) adverse selection and moral hazard. D) negative and positive externalities.
The law of demand refers to the
a. decrease in price that can be expected as more units of a product are demanded. b. increase in price that results from an increase in demand for a good of limited supply. c. inverse relationship between the price of a good and the quantity demanded. d. increase in the quantity of a good available when its price increases.