An individual earns £90,000 in a fiscal year. Under a simplified regional income tax scheme, the tax-free personal allowance is £18,000, and any income earned above this threshold is taxed at a single marginal rate of 30%.
What is the average tax rate paid by this individual?
6.00%6.00\%6.00%
10.00%10.00\%10.00%
24.00%24.00\%24.00%
30.00%30.00\%30.00%
68 exam-style questions on OCR A Level Economics Fiscal policy. Each one has a worked solution and a mark scheme showing where the marks go.