For a progressive tax the
A. average tax rate exceeds the marginal tax rate as income rises.
B. marginal tax rate declines as income increases.
C. average and marginal tax rates are equal.
D. marginal tax rate exceeds the average tax rate as income rises.
D. marginal tax rate exceeds the average tax rate as income rises.
Economics
You might also like to view...
Refer to Table 18.1. The opportunity cost of a hat in Panama is
A) 1/2 of a glove. B) 3/4 of a glove. C) 4/3 gloves. D) 2 gloves.
Economics
Refunding the debt refers to
a. selling new bonds to raise money to pay off maturing bonds. b. raising taxes to lower the national debt ceiling. c. raising the debt ceiling to allow the government to issue more debt. d. Fed purchases of government bonds in the open market.
Economics