The marginal tax rate is equal to the
A) total amount of a person's tax payment divided by the total amount of the person's taxable income.
B) total amount of a person's tax payment divided by the change in the person's taxable income.
C) change in the person's tax payment divided by the total amount of the person's taxable income.
D) change in the person's tax payment divided by the change in the person's taxable income.
D
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An unexpected change in nominal interest rate changes real interest rate by ____ in the short run
a. a smaller amount b. a larger amount c. the same amount d. an indeterminate percent
A consumer maximizes total utility from a given amount of income when the
A. Marginal utility per dollar obtained from the last unit of each good is the same. B. Total utility obtained from each product is the same. C. Marginal utility of the last unit of each good is the same. D. Amount spent for each product is the same.