1. What is the taxpayer’s average effective tax rate (AETR)? HINT: AETR is defined as tax liability divided by total gross income. Your response should be expressed in a percent with the percent (%) sign.
2. Which of the following is correct?
a. THE TAXPAYER’S AVERAGE EFFECTIVE TAX RATE IS LARGER THAN THE MARGINAL TAX RATE.
b. THE TAXPAYER’S AVERAGE EFFECTIVE TAX RATE IS SMALLER THAN THE MARGINAL TAX RATE.
c. THE TAXPAYER’S AVERAGE EFFECTIVE TAX RATE IS EQUAL TO THE MARGINAL TAX RATE.
3. (MC)
Which sentence below most strongly emphasizes the role of Gina? (5 points)
a. A gift was given to me by Gina, who wanted to thank me for helping with the bake sale.
b. Because I helped with the bake sale, Gina gave me a present as a way to say “thank you.”
d. Gina gave me the most amazing present as a thank-you gift for helping with the bake sale.
d. To thank me for helping with the bake sale, Gina gave me a present
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