Wether only when t is the marginal tax rate, use formula 2; when t is the effective tax rate, use formula 1?

Compared to marginal tax rates, effective tax rates reflect taxes paid _______.Group of answer choicesAs a percentage of total incomeIn each pay checkBased on deductionsOn last dollar earned

An economy is described by the following equations:C = 1600 + 0.8(Y – T)I = 1000G = 1800T = 3000 + tYWhere t denotes the marginal tax rate. Suppose potential GDP is Y* = 10,000. What marginal tax rate t would restore GDP to potential?Group of answer choices00.10.20.3

Each of the following statements about marginal tax rates is true EXCEPT…*1 pointMarginal tax rates apply to different portions of income in a progressive tax systemMarginal tax rates increase as the taxpayer's income increases in a progressive systemMarginal tax rates are applied to an individual's total income, not just portions of itMarginal tax rates dictate the tax rate on each additional dollar of income

In present value method one has to account for *1 pointa. interest rate prevalent at a given timeb. exchange rate prevalent at a given timec. sales tax rate prevalent at a given timed. both income and sales tax rates prevalent at a given time

Question 2Did you assign the finalPrice variable conditionally (in one condition, multiplied by the tax, and in the other condition, with no tax multiplied)? 1 pointYes No