The marginal rate of tax paid is ?

Related Mcqs:

1. If the income tax rate changes from 30% to 40% on income over Rs30,000 and a person’s income is Rs 31,000 then her marginal tax rate is ?

   A. 30%
   B. 10%
   C. 70%
   D. 40%

2. If as the quantity produced increase a production function first exhibits increasing marginal product and later diminishing marginal product, the corresponding marginal-cost curve will ?

   A. be flat (horizontal)
   B. slope upward
   C. slope downward
   D. be U-shaped.

3. Imagine there is no tax on income up to Rs 1000 after that there is a tax of 505 what is the average tax rate on an income of Rs 20,000 ?

   A. Rs 50000
   B. 20%
   C. 25%
   D. Rs 10000

4. The property tax wealth tax inheritance tax and income taxes such as persona and corporate taxes are ?

   A. indirect taxes
   B. direct taxes
   C. inelastic
   D. value-added tax

5. A tax which is paid by the person on whom the tax is incident is called a ?

   A. Local tax
   B. Indirect tax
   C. Direct tax
   D. Rate

6. Refer to Exhibit 4. If a tax is placed on the product in this market tax revenue paid by the buyers is the area ?

   A. B + C + E + F
   B. B
   C. B + C
   D. A

7. Refer to Exhibit 4. If a tax is placed on the product in this market tax revenue paid by the sellers is the area ?

   A. C + F
   B. A
   C. B
   D. C

8. If the marginal rate of tax is 40% and consumers income increase from Rs10,000 to Rs12,000 ?

   A. The amount of tax paid will increase by Rs4,800
   B. The amount of tax paid will increase by Rs4,000
   C. The amount of tax paid will increase by Rs 800
   D. The total tax paid will be Rs4,800

9. The marginal tax rate is ?

   A. the taxes paid by the marginal worker
   B. total income divided by total taxes paid
   C. the extra taxes paid on an additional unit of income
   D. total taxes paid divided by total income

10. The marginal tax rate is ?

    A. the tax rate you pay on any additional income that you earn.
    B. the total amount of tax you pay divided by your total income
    C. the additional tax you pay divided by your total income
    D. your total income divided by the total amount of tax you pay.