Jan has an income of 30,000 and pays 4,500 in taxes. When Jan's ...

[mynx]

Jan has an income of 30,000 and pays 4,500 in taxes. When Jan's income rises to 40,000 . her tax bill rises to 6,500 . What is Jan's marginal tax rate?
 a. 5 percent.
  b. 15 percent.
  c. 16.25 percent.
  d. 20 percent.

Question 2

Juanita, a lawyer, can type faster than Jill, her secretary. Jill, on the other hand, does not have the ability or skills to practice law. Applying the principles of international trade to this situation, an economic consultant advises Juanita to:
 a. fire Jill, practice law during the day, and do her own typing at night.
  b. practice law and leave all the typing to the secretary.
  c. divide her time equally between typing and practicing law.
  d. quit practicing law and take a job as a secretary.
  e. have Jill attend law school.

[Ksh22]

Answer to Question 1

d

Answer to Question 2

b

[mynx]

Thank you

[Ksh22]

Happy to help you