The marginal tax rate is the
A. total amount of taxes paid as a percentage of total income.
B. increase in taxes as a percentage of an increase in income.
C. sum of all individual tax rates.
D. tax rate paid by those with the lowest family incomes.
Answer: B
Economics
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a. average propensity to consumer (APC). b. autonomous consumption rate (ACR). c. marginal consumption propensity (MCP). d. marginal propensity to consume (MPC).
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Trade results from:
A. comparative advantage. B. absolute advantage. C. self-sufficiency. D. diminishing returns.
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