The tax rate that is the percentage of tax on the next dollar you earn is the:

Question

BlackTom AI · Accepted Answer

Clarifying the concept in question, we’re being asked to identify the tax rate that applies to the next dollar earned.
Option 1: 'total tax rate' would imply the overall tax burden across all income, summing up taxes paid on every dollar rather than the rate on the next dollar, so this is not the correct framing here.
Option 2: 'standard tax rate' is not a universally defined term for the rate on an incremental dollar; in many systems, there isn’t a single universal 'standard' rate that applies specifically to the next dollar, making this option misleading.
Option 3: 'residual tax rate' is not a standard term used in tax theory or practice to describe how incremental income is taxed, so it does not describe the next-dollar rate.
Option 4: 'average tax rate' refers to total taxes paid divided by total income, representing an overall burden rather than the rate on the next dollar earned; it does not capture the incremental rate on the next dollar.
Option 5: 'marginal tax rate' explicitly denotes the percentage charged on the next dollar of income, which is exactly the concept described in the question.
Thus, evaluating each option against the definition, the last choice aligns with the standard economic concept of the rate applied to the next dollar of earnings.

33:390:300:13 FINANCIAL MANAGEMENT Exam 1- Requires Respondus LockDown Browser

The tax rate that is the percentage of tax on the next dollar you earn is the:

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