In the United States, Manufacturing Has __________ Since the Middle

question 16

Multiple Choice

In the United States, manufacturing has __________ since the middle of the twentieth century, signaling a move out of the _______________ age.

• A) decreased; industrial
• B) decreased; preindustrial
• C) increased; preindustrial
• D) increased; agrarian

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Definitions:

Average Tax Rate

The average tax rate is the proportion of total taxable income paid in taxes, calculated by dividing the total tax paid by the total income.

Marginal Tax Rate

The rate at which the last dollar of income is taxed.

Lump-Sum Tax Rate

A tax that is a fixed amount, no matter the change in circumstance of the taxed entity. This creates a situation where the tax burden falls more heavily on those with lower income or profit.

Marginal Tax Rate

The amount of tax applied to an additional dollar of income, often used in progressive tax systems.