Based on the following data: Taxable income ($) Total tax ($) 1500 5 2500 110 3000 200 4500 400 5000 600 6000 900 Please answer the next questions. 1. What kind of tax is illustrated, i.e, structural, perverse, proportional or progressive. Explain. 2. If your taxable income is $5000, what is your average tax rate? 3. If your taxable income increases from $5000 to $6000, what is your marginal tax rate?
Based on the following data: Taxable income ($) Total tax ($) 1500 5 2500 110 3000 200 4500 400 5000 600 6000 900 Please answer the next questions. 1. What kind of tax is illustrated, i.e, structural, perverse, proportional or progressive. Explain. 2. If your taxable income is $5000, what is your average tax rate? 3. If your taxable income increases from $5000 to $6000, what is your marginal tax rate?
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter11: Fiscal Policy And The Federal Budget
Section: Chapter Questions
Problem 4WNG
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