If a household has $40,000 in taxable income and its tax liability is $20,000, the household's average tax rate is
a. 10 percent.
b. 25 percent.
c. 40 percent.
d. 50 percent
D
Economics
You might also like to view...
The growth in the number of poor families since 1965 results overwhelmingly came from a growth in the number of what?
a. elderly b. female householders c. children d. immigrants
Economics
An explicit cost is
A) a nonmonetary opportunity cost. B) a cost specifically related to government rules and regulations. C) a cost that involves spending money. D) a cost unique to corporations.
Economics