Suppose a Poverty Program Has a Basic Benefit of $10,000,and

question 36

Multiple Choice

Suppose a poverty program has a basic benefit of $10,000,and a family can earn up to $20,000 before losing all welfare benefits.The marginal tax rate is ________ percent.

• A)2.0
• B)0.5
• C)0.2
• D)0.10

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Definitions:

Industrial Revolution

The period of major industrialization that took place during the late 1700s and early 1800s which transformed economies that had been based on agriculture and handicrafts into economies based on large-scale industry, mechanized manufacturing, and the factory system.

Productivity Growth

An increase in the efficiency of producing goods or services within an economy, often leading to more output for the same amount of inputs.

Raise Savings

Encouraging or implementing strategies to increase the amount of money that individuals or entities set aside for future use rather than spending immediately.

NIC

Newly Industrialized Country, referring to nations experiencing rapid economic growth and industrialization.