2 Suppose you are a typical person in the Australian economy. You pay the 2 per cent...

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2 Suppose you are a typical person in the Australian economy. You pay the 2 per cent Medicare levy, and personal income taxes as in Table 12.2. How much tax do you pay if you earn $54 000 a year? What are your average and marginal tax rates? What happens to your tax bill, and to your average and marginal tax rates, if your income rises to $90 000?

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Principles Of Microeconomics

ISBN: 125206

8th Edition

Authors: Joshua Gans, Stephen King, Martin Byford, N Gregory Mankiw

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