The _______________ is a level of income that is taxed at a different ___________.

Question

Quizplus · Accepted Answer

The question is referring to an income tax bracket, which is a range of income levels that are subject to a particular tax rate. The different tax rates that may apply to different income brackets are referred to as marginal tax rates, because they are applied to the marginal (or additional) income earned within that bracket. The average tax rate, in contrast, is the total tax paid divided by total income, and reflects the overall tax burden as a percentage of income. The other options (A and B) refer to corporate tax, which is a different type of tax and not relevant to the question.

The _______________ Is a Level of Income That Is Taxed