Examlex

Solved

In Making Decisions About Your Personal Health, It's Helpful to Know

question 40

Multiple Choice

In making decisions about your personal health, it's helpful to know something about biology because


Definitions:

Income

Cash inflow, regularly obtained, as compensation for work or earnings from invested capital.

Average Tax Rate

The average tax rate is the proportion of total taxable income paid in taxes, calculated by dividing the total tax paid by the total income.

Marginal Tax Rate

The rate at which the last dollar of income is taxed.

Lump-Sum Tax Rate

A tax that is a fixed amount, no matter the change in circumstance of the taxed entity. This creates a situation where the tax burden falls more heavily on those with lower income or profit.

Related Questions