Question 1
Refer to Scenario 19.1 below to answer the question(s) that follow.
SCENARIO 19.1: An individual earning $60,000 pays $12,000 in taxes. The marginal tax rate on any income earned above $60,000 is 25%.
Refer to Scenario 19.1. When this person earns $60,000, her average tax rate is
◦ 5%.
◦ 20%.
◦ 25%.
◦ indeterminate from this information.
Question 2
Refer to Scenario 19.1 below to answer the question(s) that follow.
SCENARIO 19.1: An individual earning $60,000 pays $12,000 in taxes. The marginal tax rate on any income earned above $60,000 is 25%.
Refer to Scenario 19.1. When this person earns $70,000, her tax payment would be
◦ $2,500.
◦ $14,500.
◦ $17,500.
◦ indeterminate from this information.
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