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:

Daily Interest

The interest amount calculated on the principal amount on a daily basis.

Exponential Notation

A mathematical way to write numbers using bases and exponents.

Arithmetic Operations

Basic mathematical processes including addition, subtraction, multiplication, and division.

Exponential Notation

A way to express numbers in terms of a base and an exponent, simplifying how very large or very small values are represented.