Teresa is considering getting a part-time job that pays a monthly income of $1,500. Currently, Teresa is getting monthly stamp benefits of $250, and Medicaid benefits valued at $180. If Teresa accepts the job, all transfer benefits will be lost taxes will amount to $800. What is Teresa's marginal tax rate for this job? (Note: Please round your answer to two decimal places

Teresa is considering getting a part-time job that pays a monthly income of $1,500. Currently, Teresa is getting monthly stamp benefits of $250, and Medicaid benefits valued at $180. If Teresa accepts the job, all transfer benefits will be lost taxes will amount to $800. What is Teresa's marginal tax rate for this job? (Note: Please round your answer to two decimal places

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Teresa is considering getting a part-time job that pays a monthly income of $1,500. Currently, Teresa is getting monthly cash benefits of $1,000, food
stamp benefits of $250, and Medicaid benefits valued at $180. If Teresa accepts the job, all transfer benefits will be lost, and the monthly employment
taxes will amount to $800.
What is Teresa's marginal tax rate for this job?
(Note: Please round your answer to two decimal places.)

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