A person's marginal tax rate equals
a. her tax obligation divided by her average tax rate.
b. the increase in taxes she would pay as a percentage of the rise in her income.
c. her tax obligation divided by her income.
d. the increase in taxes if her average tax rate were to rise by 1percent.
b
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Growth in physical capital depends most directly upon the
A) speed of population growth. B) amount of saving and investment. C) amount of government expenditures. D) number of firms in the nation. E) level of human capital.
An increase in the equilibrium price of Japanese yen per dollar could be caused by a(n):
a. increase in the general level of prices in Japan. b. increase in the U.S. demand for domestically-built automobiles. c. decrease in the U.S. income relative to the income in Japan. d. increase in the supply of dollars on the foreign market.