Marginal income tax rates a.are nearly always lower than effective income tax rates. b.refers to the tax
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Question:
"Marginal income tax rates"
a.are nearly always lower than effective income tax rates.
b.refers to the tax rate or bracket on the first dollar earned.
c.refers to the tax rate or bracket on the last dollar earned and in a progressive income tax system, dollars earned earlier are taxed at lower rates.
d.apply only to capital gains income.
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