Suppose that you are earning the maximum amount of money within ...

[mrsjacobs44]

Suppose that you are earning the maximum amount of money within the 28 tax bracket. If you receive a 1000 raise next year this will place you in the 33 tax bracket. Calculate your tax burden and the amount of increase in your take-home pay.
 
  What will be an ideal response?

Question 2

How does the increasing use of MP3 players affect the market for compact discs?
 
  A) The demand curve for compact discs shifts to the left.
  B) The supply curve for compact discs shifts to the left.
  C) The demand curve for compact discs shifts to the right.
  D) The supply curve for compact discs shifts to the right.

[mcni194]

Answer to Question 1

The 1000 raise will generate a 330 increase in tax burden and a 670 increase in take-home pay.

Answer to Question 2

A