« previous next »

Author Question: If your income is 40,000 and you pay taxes of 4,650, what is your average tax rate? Show your work. ... (Read 74 times)

fnuegbu

  • Hero Member
  • *****
  • Posts: 539
on: Jun 29, 2018
If your income is 40,000 and you pay taxes of 4,650, what is your average tax rate? Show your work.
 
  What will be an ideal response?

Question 2

What is potential GDP?
 
  A) It is the level of real GDP in the short run.
  B) It is the difference between current GDP and maximum GDP.
  C) It is the level of GDP at which inflation is constant.
  D) It is the level of real GDP in the long run.


Awesome

  • Sr. Member
  • ****
  • Posts: 280
Reply #1 on: Jun 29, 2018
Answer to Question 1

Average tax rate = 4,650/40,000 = 0.11625 or 11.625 percent.

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Essential fatty acids have been shown to be effective against ulcers, asthma, dental cavities, and skin disorders such as acne.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

People often find it difficult to accept the idea that bacteria can be beneficial and improve health. Lactic acid bacteria are good, and when eaten, these bacteria improve health and increase longevity. These bacteria included in foods such as yogurt.

Hormonal regulation of digestion rate in the stomach and small intestine. Hormonal regulation of digestion rate in the stomach and small intestine.
Copepods, from Ernst Haeckel's 1904 work Kunstformen der Natur Copepods, from Ernst Haeckel's 1904 work Kunstformen der Natur
Change in Emotional States During Adolescence Average emotional state becomes teadilyi more negativ Change in Emotional States During Adolescence Average emotional state becomes teadilyi more negativ
Alzheimer’s medications work by intensifying the effect of acetylcholine at the receptor. Alzheimer’s medications work by intensifying the effect of acetylcholine at the receptor.
What is the maximum velocity (in km/s) of a photoelectron emitted from a surface whose work ... What is the maximum velocity (in km/s) of a photoelectron emitted from a surface whose work ...
In 2000, the average charge of tax preparation was 95 . Assuming a normal distribution and a ... In 2000, the average charge of tax preparation was 95 . Assuming a normal distribution and a ...
Video: Types of Burns

For a complete list of videos, visit our video library