Upon Your Graduation from College,you Find That the Economy Is

question 65

Multiple Choice

Upon your graduation from college,you find that the economy is in recession and the unemployment rate is relatively high.Nonetheless,most Americans in this situation would continue along their career paths looking for a new job because

• A)the cost of additional education is always higher during recession.
• B)high unemployment rates do not usually last for very long.
• C)looking for work is their only option.
• D)the wages of college graduates do not fall during recession.

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Definitions:

Taxable Income

The amount of an individual's or a corporation's income that is subject to taxes, after all deductions and exemptions.

Marginal Tax Rate

The rate at which the next dollar of taxable income is taxed, indicating the percentage of tax applied to your income for each tax bracket in which you qualify.

Taxable Income

The portion of an individual's or company's income used to determine how much tax is owed to the government.

Government Spending

Expenditures made by the government sector on goods and services, including infrastructure, education, and defense.