Refer to the information provided in Table 19.8 below to answer the question(s) that follow.
Table 19.8

-Related to the Economics in Practice on page 391: Refer to Table 19.8. At an income level of $60,000, the average tax rate is

Question

Refer to the information provided in Table 19.8 below to answer the question(s) that follow.
Table 19.8
 
-Related to the Economics in Practice on page 391: Refer to Table 19.8. At an income level of $60,000, the average tax rate is

Quizplus · Accepted Answer

The average tax rate is calculated by dividing the total taxes paid by the total income. At an income level of $60,000, if the total taxes paid are $9,000 (as per Table 19.8), the average tax rate would be $9,000 / $60,000 = 0.15 or 15%.

Refer to the Information Provided in Table 19