Refer to the Information Provided in Table 19 -Related to the Economics in Practice on Page 393: Refer

question 87

Multiple Choice

Refer to the information provided in Table 19.4 below to answer the question(s) that follow.
Table 19.4
$$\begin{array} { | c | c | } \hline \text { Total Income } & \text { Total Taxes } \\\hline \$ 10,000 & \$ 1,000 \\\hline 20,000 & 2,400 \\\hline 30,000 & 4,500 \\\hline 40,000 & 8,000 \\\hline\end{array}$$
-Related to the Economics in Practice on page 393: Refer to Table 19.4. If income increases from $20,000 to $30,000, the marginal tax rate is

• A) 3%.
• B) 15%.
• C) 21%.
• D) indeterminate from this information.

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Definitions:

Tolerance

The capacity to accept or endure differences, variations, or opposing viewpoints.

Aversive

Something unpleasant that is avoided; often used in psychology to refer to stimuli that individuals seek to avoid.

Perfectionist

An individual who refuses to accept any standard short of perfection, often leading to meticulousness and a stringent adherence to standards.

Implicitly

In a way that is not directly expressed but is understood or implied.