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 98 times)

fnuegbu

  • Hero Member
  • *****
  • Posts: 539
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
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
 

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

Common abbreviations that cause medication errors include U (unit), mg (milligram), QD (every day), SC (subcutaneous), TIW (three times per week), D/C (discharge or discontinue), HS (at bedtime or "hours of sleep"), cc (cubic centimeters), and AU (each ear).

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

For a complete list of videos, visit our video library