Suppose the tax rate on the first $10,000 of income is 0 percent; 10 percent on the next $20,000; 20 percent on the next $20,000; 30 percent on the next $20,000; and 40 percent on income over $60,000. Family A has an income of $55,000
What is the tax liability of Family A? A) $16,500
B) $6,600
C) $7,500
D) $3,400
C
Economics
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In a political democracy,
(a) only the voting majority is protected but the minority is coerced to protect the majority. (b) the population minority is free to organize and to lobby to achieve goals. (c) there is no unequal distribution of income or wealth. (d) the minority can elect officials.
Economics
During World War I (1914–18), hourly wages
(a) decreased in nominal and real terms. (b) increased in nominal and real terms. (c) increased in nominal terms but decreased in real terms. (d) decreased in nominal terms but increased in real terms.
Economics