What is the highest rate of taxation that one pays on the last dollar he or she makes called?

Question

Quizplus · Accepted Answer

The highest rate of taxation that one pays on the last dollar he or she makes is called the marginal tax rate. This rate applies only to the amount of income that falls within a certain range, and it increases as taxable income increases. The other options listed are either not applicable or do not accurately describe the concept of marginal tax rate.

What Is the Highest Rate of Taxation That One Pays