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avanturin [10]
2 years ago
9

On your property tax bill, you see the following table. destination share of your taxes roads $241 schools $896 public safety $1

54 township $177 what percentage of your taxes went to funding public safety? a. 10.49% b. 12.06% c. 11.72% d. 8.94% please select the best answer from the choices provided a b c d
Business
1 answer:
DaniilM [7]2 years ago
5 0

As per the property tax bill received by the person, such person pays around 10.49% of his total tax liabilities towards funding the public safety if $154 are paid.

<h3>What are tax liabilities?</h3>

Tax liabilities are the amount of tax that an eligible taxpayer is under an obligation to pay to the respective tax-collecting authorities.

As per the given information, it has been computed that a person pays a total tax of around $1468 and public safety taxes that are paid are $154.

Computation of the proportion of percentage of public safety out of the total tax liabilities is shown as below,

\rm Tax\ in\ Percentage\ towards\ Public\ Safety= \dfrac{Public\ Safety\ Tax}{Total\ Tax\ Liabilities}x\ 100\\\\\rm Tax\ in\ Percentage\ towards\ Public\ Safety= \dfrac{154}{1468} x\ 100\\\\\rm Tax\ in\ Percentage\ towards\ Public\ Safety= 10.49\%

Hence, option A; the person pays around 10.49% of his total tax liabilities towards funding the public safety if he pays $154 for tax liabilities of $1468.

Learn more about tax liabilities here:

brainly.com/question/15394738

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Option (B) is correct.

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Other factors remains the same, an increase in the income level of the consumer will increase the consumption of both the goods because the prices of both the goods are constant.

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It illustrates that the classical model of the price level best applies to economies with persistently high inflation.

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When a very low inflation rate has been constant in an economy, and the money supply increases suddenly, in the short run that change will not immediately increase the inflation rate, but instead it will increase real output.

Classical economists argue that an increase in the money supply will immediately affect the inflation rate, but that theory applies mostly to economies that have a certain level of inflation. For example, for the past 12 years, European nations have been experiencing very low inflation rates, sometimes even negative rates. But during that same period, the European Central Bank has carried on a huge expansionary policy. It favored economic growth, although not as much as expected, but it didn't skyrocket inflation rate as the classical economy model predicted.

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2 years ago
Jamie is single. In 2020, she reported $108,000 of taxable income, including a long-term capital gain of $5,800. What is her gro
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Explanation:

Since Jamie is single with taxable income of $108,000 which  includes $5,800 long term capital gain.

Therefore  $102,200 (108,000 -5,800) will be taxed under normal tax rates and $5,800 would be under long term capital gain tax rate.

With regards the 2020 tax schedule,  Since her ordinary income is  $102,200, Jamie falls under 24% rate tax bracket under filing for single status.

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14,382.50 + 0.24 (102,200 - 84,200)

14,382.50 + 0.24 x 18000

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Also, according to her income, longterm capital gain tax applicable in 2020 is 15%

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