The most important tax rate for determining an individual's incentive to work is the margnal tax rate.
<h3>What is a tax?</h3>
Tax refers to the compulsory financial charge or levies on an individual or entities by governments in almost every country of the world.
Tax is a tariff or duty that is the revenue of the government which is levied by it on the income of the workers, business profits, and also added to goods and sevices.
A tax rate is the rate or a percentage at which an individual or corporation is taxed. Basically, there are two types direct taxes and indirect taxes.
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Answer:
Prices play an important role in the decision making of an individual. It gives us information about the relative scarcity of the good and helps us decide if we want to purchase the good or not. Two examples can be,
a). When you buy a good in a sale. Sales give you an opportunity to buy what you wanted to at a price that is lower than usual.
b). When the price of Coke increases, you start consuming more Pepsi as they both are substitute goods. So, you would want to buy the cheaper one and not purchase the relatively expensive one.
Answer:
the answer would be B
Explanation:
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Answer:
B) $6,400
Explanation:
The equation for the aggregate consumption spending function:
- C = $5,000 + [$70 / ($400 - $300)] YD = $5,000 + ($70 / $100) YD = $5,000 + 0.7 YD
If YD = $2,000
total value of aggregate consumer spending = $5,000 + (0.7 x $2,000) = $5,000 + $1,400 = $6,400
