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Assume that in a given country, tax revenues, T, depend on income, I, according to the formula T = -4000+ 0.2I You are to fill
Assume that in a given country, tax revenues, T, depend on income, I, according to the formula T = -4000+ 0.2I You are to fill the given table given the level of income.
Income | Tax Liability | Average Tax Rate | Marginal Tax Rate |
$2000 | |||
3000 | |||
5000 | |||
10000 | |||
30000 |
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