The corporate income tax is ultimately paid by all of the following except
A) owners of the corporation.
B) the corporation's debtors in the form of lower rates of return on the corporation's bonds.
C) employees in the form of lower wages.
D) customers in the form of higher prices.
B
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In the figure above, the shift in the aggregate demand curve from AD1 to AD2 could be result of
A) an increase in government expenditures on goods and services. B) a decrease in the quantity of money. C) a rise in the price level. D) a fall in the price level. E) an increase in taxes.
Refer to Table 18-9. Sylvia is a single taxpayer with an income of $70,000. What is her marginal tax rate and what is her average tax rate?
A) marginal tax rate = 8%; average tax rate = 19.3% B) marginal tax rate = 30%; average tax rate = 22.5% C) marginal tax rate = 20%; average tax rate = 30% D) marginal tax rate = 30%; average tax rate = 30%