Two years ago, Adrienne and William earned $90,450 and paid $10,854 in income tax. Last year, the couple earned $97,770 and paid$15,632 In Income tax.a. Which of the following statements is true regarding the tax payments?O The actual tax payment was higher last year and the couple's disposable income was smaller.O Both the actual tax payment and the tax rate were higher last year than in the previous year.The actual tax payment was higher last year, but the tax rates were the same.O The actual tax payment was higher last year, but the tax rates cannot be computed without more Information.b. This example illustratesO the stabilizing properties of the U.S. tax system.O increased Income requires new tax policy to prevent Inflation.O households with higher income pay a smaller percentage of their Income in taxes.O taxes are too high.

Disposable income is that level of income which is left with the household after paying taxes and…

Two years ago, Adrienne and William earned $90,450 and paid $10,854 in Income tax. Last year, the couple earned $97,770 and paid $15,632 In Income tax. a. Which of the following statements is true regarding the tax payments? O The actual tax payment was higher last year and the couple's disposable Income was smaller. O Both the actual tax payment and the tax rate were higher last year than in the previous year. O The actual tax payment was higher last year, but the tax rates were the same. O The actual tax payment was higher last year, but b. This example illustrates the tax rates cannot be computed without more Information. O the stabilizing properties of the U.S. tax system. O increased Income requires new tax policy to prevent Inflation. O households with higher income pay a smaller percentage of their Income in taxes. O taxes are too high.

Two years ago, Adrienne and William earned $90,450 and paid $10,854 in Income tax. Last year, the couple earned $97,770 and paid $15,632 In Income tax. a. Which of the following statements is true regarding the tax payments? O The actual tax payment was higher last year and the couple's disposable Income was smaller. O Both the actual tax payment and the tax rate were higher last year than in the previous year. O The actual tax payment was higher last year, but the tax rates were the same. O The actual tax payment was higher last year, but b. This example illustrates the tax rates cannot be computed without more Information. O the stabilizing properties of the U.S. tax system. O increased Income requires new tax policy to prevent Inflation. O households with higher income pay a smaller percentage of their Income in taxes. O taxes are too high.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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