Asked by Shaniek Wiltshier on Jun 29, 2024
Verified
A single person pays $200 in federal income tax.How much is her marginal tax rate and her average tax rate?
Marginal Tax Rate
The rate at which the last dollar of income is taxed, indicating the taxation rate for each additional dollar earned.
Federal Income Tax
A tax levied by the U.S. federal government on an individual's or entity's annual income.
- Recognize the variance between average and marginal tax rates, along with ways to determine them.
Verified Answer
ZK
Learning Objectives
- Recognize the variance between average and marginal tax rates, along with ways to determine them.