About What Percentage of National Output Does the United States

question 32

Multiple Choice

About what percentage of national output does the United States' current national debt represent?

• A) between 10 and 25 percent
• B) between 25 and 40 percent
• C) between 40 and 55 percent
• D) between 55 and 70 percent
• E) over 70 percent

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Definitions:

Total Income

The sum of all earnings and other forms of income received by an individual or entity over a period of time.

Average Tax Rate

The percentage of total income that is paid in taxes.

Marginal Tax Rate

The percentage of tax applied to your next dollar of income, indicating the rate at which your last dollar earned is taxed.

Local Property Tax

Local Property Tax is a levy on the value of a property, typically imposed by local government authorities to fund public services.