Answer these questions.Topic is Fiscal Policy

1. Coun- X's income tax bands are shown in the table below: Personal allowance 10000 10001 40000 Above 40000 a) Explain why the rates 20% and 40% are known as Marginal Tax Rates (MTR) b) Calculate the amount of income tax paid for someone who earns 21000 c) Calculate the Average Income Tax Rate (ATR) for this individual (I) The total tax paid (from all taxes) expressed as a percentage of income is known as the tax burden. State the tax burden for the UK for 2019 (Hint: it's on one of the graphs in the PPT)