3er the following hypothetical income tax brackets for a married couple Assume for simplicity there are no exemptions or deductions. Income $0-520,000 $20,000-$50,000 $50,000-$100,000 Over $100,000 Tax Rate 10% 20 35 50 Suppose the couple's income is $90,000. What is the couple's marginal tax rate? The couple's marginal tax rate is percent. (Enter your response as an integer.)

Q: 11. The Laffer curve Government-imposed taxes cause reductions in the activity that is being taxed,…

A: Tax Q TR 0 50 0 20 40 800 40 30 1200 50 25 1250 60 20…

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A: A progressive tax is a tax/duty wherein the expense rate increments as the available income/taxable…

Q: 14. What is the agency responsible for collecting taxes at the O the Federal Tax Office the…

A: The agency responsible for collecting taxes at the federal level is the Internal Revenue Service.

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A: The marginal tax rate is the additional tax income due to a change in tax liability. The marginal…

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A: The marginal tax rate is the amount of additional tax paid for every additional dollar earned as…

Q: Help Save&Exit Submit Suppose an income tax is imposed that takes $1,000 from someone with an income…

A: The correct answer to the abovementioned question is Progressive tax.

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A: a. The first $10,000 is tax-free in the economy and the next $10,000 has a 20 percent tax, the next…

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Q: Explain briefly the three main purposes in exercising taxation power.

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A: Increase in net taxes imply fall in the disposal income.

Q: How much federal income tax will you owe? Instructions: Enter your answer rounded to 2 decimal…

A: Answer e) Federal Tax owed= 1st slab tax rate X $19400 + 2nd slab rate X excess of taxable income…

Q: Applying the following hypothetical Federal Income Tax Rate Table, for a Single Tax-Filer earning…

A: a) The formula: Total  tax due =∑(Tax rate of the bracket * income in the bracket)…

Q: 10. Understanding marginal and average tax rates Using the information provided on the income tax…

A: The marginal tax rate is the additional tax income due to a change in tax liability. The marginal…

Q: Below is a tax table. Assume I earn $150 a year. My tax bracket is ;my marginal tax rate is my…

A: Meaning of Progressive Tax: The term progressive tax refers to the situation under which tax rate…

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A: The following problem has been answered as follows:

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A: State income tax amount can be calculated as follows.     Thus, state income tax will be $1,200.

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Q: Suppose in Fiscalville there is a O percent tax on the first $10,000 of income, but there is a 20…

A: Given information:

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A: The individual income tax is a manifestation of this system of progressive taxation.   When the tax…

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A: 1) According to the chart income tax is progressive tax The tax rate rises as income rises so the…

Q: 7.Which flows represent taxes? a. C and D b. E and F c. A and B d. D and E

A: Introduction In the modern economy, money is used in the process of exchange. In the monetary…

Q: 11. The Laffer curve Government-imposed taxes cause reductions in the activity that is being taxed,…

A: The tax rate and the quantity are given in the table. The table is as follows:

Q: 14. What are the three tools of fiscal policy? Tixes a. b. c.

A: The fiscal policy is the way or process to balance the economic activities in an economy. For…

Q: Steve Forbes ran for U.S. president in 1996 and 2000 on a platform proposing a 17% flat tax, that…

A: Answer: Given: Tax rate = 17% Alice's taxable income = $29,000 Calculation of tax amount: If Mr.…

Q: Question 6 Here is a hypothetical income tax schedule expressed in nominal terms for the year 2015:…

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Q: What is Fiscal Policy? Discuss types of Fiscal policies?

A: (Q) What is Fiscal Policy? Discuss types of Fiscal policies?

Q: 23. Which of the following is an indirect tax? A tax on company profits consumer goods and services…

A: Tax refers to the payment made by a consumer or producer to the government of a nation. It is used…

Q: Consider the following categories of taxes: I. wealth tax II. consumption tax III. Direct tax…

A: Note- We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

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A: The income tax is the tax that is levied on the income of the people directly. It is collected,…

Q: Figure 4-11 LAFFER CURVE 100 в Tax Revenue Refer to Figure 4-11. On the Laffer curve shown, tax…

A: The Laffer curve illustrates the relationship between the tax rate imposed by the government and the…

Q: Suppose you are a typical person in the U.S. economy. You pay 4 percent of yourincome in a state…

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Q: Question: Solve for the equilibrium level of output in the following two scenarios: there isan…

A: Y=−5+0.5(Y−250−0.1Y)+200+300+50'

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Q: Consider the following hypothetical income tax brackets for a married couple. Assume for simplicity…

A: Average tax rate is the total amount of tax divided by total income. Marginal tax rate is the rate…

Q: 4. Computing and interpreting average tax rates In a hypothetical economy, Clancy earns $11,000,…

A: When all taxable sources of income are combined together and divided by the amount of taxes payable,…

Q: 10. Which of the following best describes government revenue? a) Government programs designed to…

A: Government of a nation needs money to finance its spending.  Government has two sources of…

Q: Briefly explain the purpose served by payroll taxes and how they are collected. Describe any comment…

A: Taxes are mandatory fee that is paid by the firms and households to the government. It is collected…

Q: of 30000$ The income tax in the country X is proportional and equals 2% The income tax in the…

A: The proportional income tax rate remains same for different incomes. The progressive income tax rate…