Suppose the government taxes 30 percent of the first $70,000 and 50 percent of all income above $70,000 . For a person earning $200,000 . the marginal tax rate is
a. 30 percent, and the average tax rate is 50 percent.
b. 30 percent, and the average tax rate is 43 percent.
c. 50 percent, and the average tax rate is 40 percent.
d. 50 percent, and the average tax rate is 43 percent.
d
Economics
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John has been laid off from his job because of a general downturn in the economy. John's unemployment is best classified as
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When Janet Yellen, Chair of the Federal Reserve, addresses Congress regarding the United States role in the world economy, she is discussing
A) a macroeconomic topic. B) a microeconomic topic. C) scarcity. D) incentives.
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