This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Jan has an income of 30,000 and pays 4,500 in taxes. When Jan's income rises to 40,000 . her tax ... (Read 110 times)

mynx

  • Hero Member
  • *****
  • Posts: 555
on: Jun 30, 2018
Jan has an income of 30,000 and pays 4,500 in taxes. When Jan's income rises to 40,000 . her tax bill rises to 6,500 . What is Jan's marginal tax rate?
 a. 5 percent.
  b. 15 percent.
  c. 16.25 percent.
  d. 20 percent.

Question 2

Juanita, a lawyer, can type faster than Jill, her secretary. Jill, on the other hand, does not have the ability or skills to practice law. Applying the principles of international trade to this situation, an economic consultant advises Juanita to:
 a. fire Jill, practice law during the day, and do her own typing at night.
  b. practice law and leave all the typing to the secretary.
  c. divide her time equally between typing and practicing law.
  d. quit practicing law and take a job as a secretary.
  e. have Jill attend law school.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Ksh22

  • Sr. Member
  • ****
  • Posts: 297
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

b


mynx

  • Hero Member
  • *****
  • Posts: 555
Reply #2 on: Jun 30, 2018
Thank you :)


Ksh22

  • Sr. Member
  • ****
  • Posts: 297
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

Before a vaccine is licensed in the USA, the Food and Drug Administration (FDA) reviews it for safety and effectiveness. The CDC then reviews all studies again, as well as the American Academy of Pediatrics and the American Academy of Family Physicians. Every lot of vaccine is tested before administration to the public, and the FDA regularly inspects vaccine manufacturers' facilities.

The Inverted Income Pyramid: The Proportion of Income Received by Each Fifth of the U.S. Population The Inverted Income Pyramid: The Proportion of Income Received by Each Fifth of the U.S. Population
Ten Leading Causes of Death in High-Income Countries, 2008 Ten Leading Causes of Death in High-Income Countries, 2008
Income Distribution in the United States, 2009 Income Distribution in the United States, 2009
Determination of Income Inequality Determination of Income Inequality
How the Return to Education Affects the Distribution of Income How the Return to Education Affects the Distribution of Income
Construct a Lorenz curve that shows income distribution in this society. Construct a Lorenz curve that shows income distribution in this society.
Video: Monohybrid crosses

For a complete list of videos, visit our video library