If Heather's Tax Liability Increases from $10,000 to $15,000 When

question 36

Multiple Choice

If Heather's tax liability increases from $10,000 to $15,000 when her income increases from $30,000 to $40,000, her marginal tax rate is

• A) 33 percent.
• B) 35 percent.
• C) 50 percent.
• D) 60 percent.

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Definitions:

Personal Abilities

The skills, talents, and competencies that an individual possesses, which can contribute to their performance in various tasks or roles.

Profound Effects

Significant and deep impacts that alter or influence something substantially.

Lowest-Risk Followers

Individuals or entities that tend to engage with or support the least risky strategies, options, or leaders.

Disruptive

Refers to innovations or technologies that significantly alter the way businesses or entire industries operate, often displacing established entities.