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Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050

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BuyFindarrow_forward

Principles of Microeconomics

7th Edition
N. Gregory Mankiw
ISBN: 9781305156050
Textbook Problem

In the United States, taxpayers in the top 1 percent of the income distribution pay about ______ percent of their income in federal taxes.

a. 5

b. 10

c. 20

d. 30

To determine
Contribution of top 1% of the income distribution in the federal taxes.

Explanation

Option (d):

Taxpayers in the top 1% of the income distribution pay about their 30% of income in federal taxes. Thus, option 'd' is correct.

Option (a):

Taxpayers in the top 1% of the income distribution pay about their 30% of income in federal taxes. Thus, option 'a' is incorrect...

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