Suppose a country imposes a lump-sum income tax of $5,000 on each individual in the country. What is the marginal income tax rate for an individual who earns $40,000 during the year?
A) 0%
B) 10%
C) More than 10%
D) The marginal tax rate cannot be determined without knowing the entire tax schedule.
Correct Answer:
Verified
Q216: With a lump-sum tax, the
A)marginal tax rate
Q488: If a government simplified its tax system
Q489: With a lump-sum tax,the average tax rate
Q490: A lump-sum tax
A)is most frequently used to
Q491: The most efficient tax possible is a
A)marginal
Q493: If the government were to impose a
Q494: Suppose a country imposes a lump-sum income
Q495: Which of the following is not an
Q496: Suppose a country imposes a lump-sum income
Q497: If the government imposes a tax of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents