This topic contains a solution. Click here to go to the answer

Author Question: Suppose the tax rate on the first 10,000 income is 0 percent; 10 percent on the next 20,000; 20 ... (Read 80 times)

elizabeth18

  • Hero Member
  • *****
  • Posts: 559
Suppose the tax rate on the first 10,000 income is 0 percent; 10 percent on the next 20,000; 20 percent on the next 20,000; 30 percent on the next 30,000; and 40 percent on any income over 80,000. Family A has income of 40,000.
 
  What is the marginal and average tax rate for Family A? A) marginal10 percent; average10 percent
  B) marginal20 percent; average10 percent
  C) marginal25 percent; average20 percent
  D) marginal20 percent; average25 percent

Question 2

In the labor market, adjustments to changes in supply and demand
 
  A) usually occur instantly.
  B) usually take time to occur.
  C) do not apply, since the labor market does not respond to supply and demand forces.
  D) do not apply, since wages in the labor market always go up.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

orangecrush

  • Sr. Member
  • ****
  • Posts: 350
Answer to Question 1

B

Answer to Question 2

B




elizabeth18

  • Member
  • Posts: 559
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it


atrochim

  • Member
  • Posts: 331
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

Parkinson's disease is both chronic and progressive. This means that it persists over a long period of time and that its symptoms grow worse over time.

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

Did you know?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

For a complete list of videos, visit our video library