Nolan Earns a Salary of $80,000 and Has a Flat

question 13

Multiple Choice

Nolan earns a salary of $80,000 and has a flat tax rate of 28%.The amount of after-tax dollars he has to invest is

• A)$22,400.
• B)$57,600.
• C)$56,000.
• D)$80,000.

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Definitions:

Yugoslavia

A country that existed in Southeast Europe during most of the 20th century, comprising several Slavic ethnic groups and dissolved in a series of wars in the 1990s.

Trade Balance

The gap between what a country sells to and buys from other countries in terms of goods and services.

Merchandise

Goods that are bought and sold in commerce, particularly those related to retail trade.

Services

Intangible products that are consumed at the point of sale and do not result in ownership of physical goods.