he table below shows the payroll taxes that four individuals pay. Labor Income, Tax Paid, and Average Tax Rate Labor Income Tax Paid Average Tax Rate (percent) Individual (dellars) (dollars) Samantha $45,000 $3,600 Charles 60,000 4,800 Amanda 80,000 6,400 Young 105,000 8,400 Instructions: Enter your answers as a whole number. a. Complete the table above by calculating the average payroll tax rate paid by each individual on his or her labor income. b. Is the payroll tax depicted here progressive, regressive, or proportional?

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.