The table below shows the annual income tax brackets in an economy in 2024:
| Taxable Income | Tax Rate |
|---|---|
| €0 – €15,000 | 10% |
| €15,001 – €40,000 | 20% |
| €40,001 – €75,000 | 30% |
| €75,001 – €120,000 | 40% |
| Over €120,000 | 45% |
What is the average tax rate for an individual who earns €80,000?
23.75%
25.00%
30.00%
40.00%
37 exam-style questions on OCR A Level Economics Income distribution and welfare. Each one has a worked solution and a mark scheme showing where the marks go.