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

question 56

Multiple Choice

Refer to the information provided in Table 19.8 below to answer the question(s) that follow.
Table 19.8
$$\begin{array} { | c | c | } \hline \text { Total Income } & \text { Total Taxes } \\\hline \$ 20,000 & \$ 2,000 \\\hline 40,000 & 4,800 \\\hline 60,000 & 9,000 \\\hline 80,000 & 16,000 \\\hline\end{array}$$
-Related to the Economics in Practice on page 393: Refer to Table 19.8. If income increases from $60,000 to $80,000, the marginal tax rate is

• A) 5%.
• B) 20%.
• C) 35%.
• D) indeterminate from this information.

Comprehend the nature and capabilities of long-term memory.

Identify and understand different strategies for enhancing memory retention.

Understand the causes and characteristics of specific learning disabilities and conditions.

Recognize the factors influencing intelligence and creativity, including environmental and genetic factors.

---

Definitions:

Rational Self-Interest

The principle that individuals tend to make decisions based on their own benefit, guided by the information available to them and their own preferences.

Economic Model

A simplified representation of economic processes, used to analyze and predict economic phenomena.

Consumer Behavior

The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

Economic Theory

A structured explanation or framework about how economies function, including principles and models to understand economic behavior and markets.