$4,00060, 00024,000.0060,000$6,000Complete the following table by deriving the marginal tax rates in the income ranges of $20,000 to $40,000 and $40,000 to $ 60,000 for each country.Taxable Income Range Country A Marginal Tax Rate Country B Marginal Tax Rate( Dollars)(Percent)(Percent) 20,000 to 40,00040,000 to 60,000Complete the following table by deriving the average tax rates at each income level for each

ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter3: Economic Decision Makers
Section: Chapter Questions
Problem 3.11P
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Using the information provided on the income tax
systems in two hypothetical countries, Country A and
Country B, complete the following tables.Country
ACountry BTaxable Income (Dollars) Tax Liability (Dollars)
Taxable Income(Dollars) Tax Liability (Dollars
)20,0002,000.0020, 000$2,00040, 00010, 000.0040,000
$4,00060,00024,000.0060, 000$6,000Complete the
following table by deriving the marginal tax rates in the
income ranges of $20,000 to $40,000 and $40,000 to $
60,000 for each country.Taxable Income Range Country
A Marginal Tax Rate Country B Marginal Tax Rate(
Dollars)(Percent)(Percent) 20,000 to 40,00040,000 to
60,000Complete the following table by deriving the
average tax rates at each income level for each
country.Taxable Income (Dollars)(Percent) Country A
Average Tax Rate Country B Average Tax Rate(Percent
)20,00040, 00060,000
Transcribed Image Text:Using the information provided on the income tax systems in two hypothetical countries, Country A and Country B, complete the following tables.Country ACountry BTaxable Income (Dollars) Tax Liability (Dollars) Taxable Income(Dollars) Tax Liability (Dollars )20,0002,000.0020, 000$2,00040, 00010, 000.0040,000 $4,00060,00024,000.0060, 000$6,000Complete the following table by deriving the marginal tax rates in the income ranges of $20,000 to $40,000 and $40,000 to $ 60,000 for each country.Taxable Income Range Country A Marginal Tax Rate Country B Marginal Tax Rate( Dollars)(Percent)(Percent) 20,000 to 40,00040,000 to 60,000Complete the following table by deriving the average tax rates at each income level for each country.Taxable Income (Dollars)(Percent) Country A Average Tax Rate Country B Average Tax Rate(Percent )20,00040, 00060,000
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