Devry ECO450 Week 7 Quiz

ECO 450 Week 7 QuizReview Test Submission: Quiz 5Course Public FinanceTestQuiz 5This quiz consist of 15 multiple choice questions and covers the material in Chapter 10. Be sure you are in Chapter 10 when you take the quiz.Question 1.According to the benefit principle,Question 2If the marginal tax rate is 20% under a proportional tax rate structure, the average tax rate:Question 3.If the average tax rate under a progressive tax rate structure is 35%, a possible marginal tax rate is:Question 4A payroll tax taxes a worker’s wages at 14 percent until the worker earns $60,000 per year. All labor earnings in excess of $60,000 are not subject to tax. The tax rate structure of the payroll tax is therefore:Question 5The marginal tax rate will eventually exceed the average tax rate forQuestion 6Which of the following countries has the highest average tax rate relative to GDP?Question 7Tax avoidance is:Question 8Marginal tax rates were reduced in 2001. Other things being equal, this is likely to:Question 9An excise tax is a:Question 10.A tax on the value of real estate holdings is a:Question 11.A 5-percent retail sales tax on all consumer purchases in a state is imposed. The sales tax is:.Question 12A proportional income tax has an average tax rate that:Question 13.The tax base of a payroll tax is:Question 14.Question 15.A bridge becomes congested after 100 vehicles per hour use it on any day. To achieve efficiency, a toll