Refer to the table above. If Jack has an annual income of $50,000 and Jill earns $77,500, which of the following is true?
A) Jack and Jill pay an equal amount of tax.
B) The average rates of tax paid by Jack and Jill are equal.
C) The marginal tax rate for Jack is higher than the marginal tax rate for Jill.
D) Jack and Jill fall in the same tax bracket.
D
Economics
You might also like to view...
Refer to the scenario above. The principal in this case is:
A) $300. B) $1,000. C) $1,300. D) $2,300.
Economics
As capital per worker rises, output per worker rises. However, this increase in output per worker is smaller at smaller levels of existing capital per worker
a. True b. False Indicate whether the statement is true or false
Economics