Author Question: Refer to Table 20.1. George is a single taxpayer with an income of 65,000. If George had received a ... (Read 133 times)

2125004343 · **on:** Jun 29, 2018

Refer to Table 20.1. George is a single taxpayer with an income of 65,000. If George had received a raise of 3,500 at the beginning of the year, his average tax rate would be

A) 22.99.
B) 23.75.
C) 32.5.
D) 38.

Question 2

A major earthquake occurs in the central part of the United States. What impact would this have on the nation's production possibilities frontier and why?

A) It would shift outward because unemployment would be reduced.
B) Nothing would happen because the nation would still have the same capabilities.
C) A tradeoff would occur to replace the resources and goods destroyed.
D) It would shift inward because some of the nation's resources, such as capital and labor, would be destroyed.
E) It would not shift because people would get to work to replace any capital that was destroyed.