Government Expenditures, G Tax Revenues, T $ 190 $ 100 190 120 140 160 180 190 190 190 Instructions: Enter your answers as a whole number. a. What is the marginal tax rate in Waxwania? percent Real GDP $ 500 600 700 800 900 b. What is the average tax rate? percent c. Which of the following describes the tax system: proportional, progressive, or regressive? (Click to select)
Government Expenditures, G Tax Revenues, T $ 190 $ 100 190 120 140 160 180 190 190 190 Instructions: Enter your answers as a whole number. a. What is the marginal tax rate in Waxwania? percent Real GDP $ 500 600 700 800 900 b. What is the average tax rate? percent c. Which of the following describes the tax system: proportional, progressive, or regressive? (Click to select)
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Transcribed Image Text:Government
Expenditures, G Tax Revenues, T
$ 190
$ 100
190
190
190
190
percent
120
140
160
180
Instructions: Enter your answers as a whole number.
a. What is the marginal tax rate in Waxwania?
b. What is the average tax rate?
Real GDP
$ 500
600
700
800
900
percent
c. Which of the following describes the tax system: proportional, progressive, or regressive?
(Click to select)
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