Define the average tax rate
The average tax rate is the total taxes paid divided by total income.
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Which of the following is a category (degree) of inflation?
(a) Deflation. (b) Externally induced inflation. (c) Demand-Pull inflation. (d) Stagflation.
Consider an economy with a labor force of 200 million people of which 180 million are employed while 20 million are unemployed. Each period, 45% of the unemployed population finds a job. If the economy is in a steady-state of unemployment, what percent of the employed population lose their job each period?
A. 15% B. 5% C. 25% D. 20% E. 10%
Between the years of 2001 and 2003, what happened to the structural deficit?
A. It declined rapidly. B. It fell steadily. C. It increased steadily. D. It remained fairly constant.
In a perfectly competitive market, the average revenue curve of a firm is
A. the same as its total revenue curve. B. the same its economic profits. C. the difference between its total revenue curve and its marginal revenue curve. D. the same as its demand curve.