Use the Table Below to Choose the Correct Answer

question 246

Multiple Choice

Use the table below to choose the correct answer.
The marginal tax rate on income in the $25,000 to $30,000 range is

• A) 10 percent.
• B) 20 percent.
• C) 50 percent.
• D) 70 percent.

---

Definitions:

Household Production

The creation of goods and services within a home for personal use, employing family labor and resources.

Child Care

The care and supervision of a child or multiple children at a time, whose ages can range from two weeks to eighteen years. Child care is the action or skill of looking after children by a day-care center, nannies, babysitter, teachers, or other providers.

Private Goods

Products and services that are exclusive and distinctly owned, with their use limited to the owner or individuals who have permission.

Corporate Form

A business structure where owners have limited liability, and the entity is recognized legally as separate from its owners.