ook Refer to the following table for Waxwania: Government Expenditures, G $ 170 Tax Revenues, T Real GDP $ 90 $ 450 170 110 550 170 130 650 170 150 750 170 170 850 nt ences Instructions: Enter your answers as a whole number. a. What is the marginal tax rate in Waxwania? percent b. What is the average tax rate? percent c. Which of the following describes the tax system: proportional, progressive, or regressive? (Click to select)

ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter3: Economic Decision Makers
Section: Chapter Questions
Problem 3.11P
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Refer to the following table for Waxwania:
Government
Expenditures, G
$ 170
Tax Revenues, T
Real GDP
$ 90
$ 450
170
110
550
170
130
650
170
150
750
170
170
850
nt
ences
Instructions: Enter your answers as a whole number.
a. What is the marginal tax rate in Waxwania?
percent
b. What is the average tax rate?
percent
c. Which of the following describes the tax system: proportional, progressive, or regressive?
(Click to select)
Transcribed Image Text:ook Refer to the following table for Waxwania: Government Expenditures, G $ 170 Tax Revenues, T Real GDP $ 90 $ 450 170 110 550 170 130 650 170 150 750 170 170 850 nt ences Instructions: Enter your answers as a whole number. a. What is the marginal tax rate in Waxwania? percent b. What is the average tax rate? percent c. Which of the following describes the tax system: proportional, progressive, or regressive? (Click to select)
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