John Faces a Progressive Tax Structure That Has the Following

question 167

Multiple Choice

John faces a progressive tax structure that has the following marginal tax rates: 0 percent on the first $10,000,10 percent on the next $10,000,15 percent on the next $10,000,25 percent on the next $10,000,and 40 percent on all additional income.If John earns $50,000 per year,what would be his tax liability

• A)$8000
• B)$9000
• C)$16,000
• D)$25,000

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Definitions:

Reticular Formation

A complex network of nerve pathways within the brainstem involved in consciousness and the regulation of sleep-wake cycles.

Thalamus

A brain region that acts as a relay station, processing and transmitting information from the sensory organs to the appropriate areas of the brain.

Cerebellar Cortex

The outer layer of the cerebellum, involved in the coordination of voluntary movements and balance.

Arbor Vitae

The tree-like arrangement of white matter in the cerebellum that helps coordinate and regulate muscular activity.