The Profession of Psychology

question 24

Multiple Choice

The profession of psychology

• A) developed quickly in the 1930s.
• B) was primarily in education,teaching,and research prior to the 1950s.
• C) is highly impractical.
• D) focused on business settings prior to the 1950s.

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Definitions:

Marginal Tax Rate

The rate at which the last dollar of income is taxed, indicating the proportion of any additional dollar of income that will be taken as tax.

Lump-Sum Tax

A tax that is a fixed amount, not dependent on the taxpayer's income level or assets' value.

Average Tax Rate

The fraction of total income that is paid in taxes, calculated by dividing the total taxes paid by the total taxable income.

Ability-To-Pay Principle

A tax theory stating that taxes should be levied according to an individual or entity’s capacity to pay.