Pat Calculates That for Every Extra Dollar She Earns,she Owes

question 192

Multiple Choice

Pat calculates that for every extra dollar she earns,she owes the government 33 cents.Her total income now is $35,000,on which she pays taxes of $7,000.Determine her average tax rate and her marginal tax rate.

• A) Her average tax rate is 33% and her marginal tax rate is 20%.
• B) Her average tax rate is 20% and her marginal tax rate is 33%.
• C) Her average tax rate is 20% and her marginal tax rate is 20%.
• D) Her average tax rate is 33% and her marginal tax rate is 33%.

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Definitions:

Ratio

A mathematical term describing the quantitative relation between two amounts, showing the number of times one value contains or is contained within the other.

Equivalent Ratio

A proportion between two sets of quantities indicating their equality in value or function.

Smallest Term

In mathematics, it refers to the term in an expression, sequence, or series that has the smallest value.

Equivalent Ratio

A proportional relationship between two numbers or quantities, indicating how many times the first number contains the second.