Refer to the following table for Waxwania: Government Expenditures, G Tax Revenues, T Real GDP $170 $100 $500 170 120 600 170 140 700 170 160 800 170 180 900 Instructions: Enter your answers as a whole number. a. What is the marginal tax rate in Waxwania? percent b. What is the average tax rate? percent c. Which of the following describes the tax system: proportional, progressive, or regressive? (Click to select) ♥

Economics (MindTap Course List)
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ISBN:9781337617383
Author:Roger A. Arnold
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Chapter11: Fiscal Policy And The Federal Budget
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Refer to the following table for Waxwania:
Government
Expenditures, G
Tax Revenues, T
Real GDP
$170
$100
$500
170
120
600
170
140
700
170
160
800
170
180
900
Instructions: Enter your answers as a whole number.
a. What is the marginal tax rate in Waxwania?
percent
b. What is the average tax rate?
percent
c. Which of the following describes the tax system: proportional, progressive, or regressive?
|(Click to select) v
Transcribed Image Text:Refer to the following table for Waxwania: Government Expenditures, G Tax Revenues, T Real GDP $170 $100 $500 170 120 600 170 140 700 170 160 800 170 180 900 Instructions: Enter your answers as a whole number. a. What is the marginal tax rate in Waxwania? percent b. What is the average tax rate? percent c. Which of the following describes the tax system: proportional, progressive, or regressive? |(Click to select) v
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