Song earns $175,000 taxable income as an interior designer and is taxed at an average rate of 25 percent (i. e., $43,750 of tax). a. if congress increases the income tax rate such that song's average tax rate increases from 25 percent to 35 percent, how much more income tax will she pay assuming that the income effect is descriptive?

The interaction of individual choices because a type of fish is on the verge of extinction, the government imposes rules that prohibit fishing in the publicly owned spawning grounds. at first owners of fshing bouts complain about this restriction on where they can fish, but soon they notice that the number of adult fish swimming outside the protected area is much higher than it was before. with the restriction, each fishing boat ends up catching more fish than it did before the r which of the following principles of economic interaction best describes this scenario? o there is a tradeoff between equality and efficiency o markets usually lead to efficiency. o when markets do not achieve efficiency, government intervention can improve overall welfare o markets allocate goodseffectively