If Theresa paid $5,000 in taxes last year on taxable income of $50,000, her effective tax rate was Group of answer choices 1000% 0.1% 20% 10%

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter30: Government Budgets And Fiscal Policy
Section: Chapter Questions
Problem 6SCQ: What taxes would an individual pay if he were self-employed and the business is not incorporated?
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If Theresa paid $5,000 in taxes last year on taxable income of $50,000, her effective tax rate was
Group of answer choices
1000%
0.1%
20%
10%
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