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Multiple Choice 1)Within the US Federal Income Tax Form 1040, household tax is computed a based upon a marginal tax rate that increases for higher income brackets. b. based upon a marginal tax rate that remains the same for different income brackets. based upon a marginal tax rate that decreases for higher income brackets. d based upon an average tax rate that increases for higher income brackets. e based upon an average tax rate that decreases for higher income brackets. C. 2)Which of the following measures for a household is not a flow measure, ie. defined over a time interval? consumption expenditure, or a. expenses Double-click to hide white space b. wealth c. saving d income e budget 3)At the end of your Federal Income Tax Form 1040, if you've determined that your taxes withheld by your employer are greater than your tax liability, then you will pay no taxes for the year. you should use the standard deduction. you should itemine doductions you have to pay more tax 3)At the end of your Federal Income Tax Form 1040, if you've determined that your taxes withheld by your employer are greater than your tax liability, then a. you will pay no taxes for the year. b. you should use the standard deduction. c. you should itemize deductions. d. you have to pay more tax. Double-click to hide white sp e. you are entitled to a refund. 4) As a tax credit on the Federal Income Tax Form 1040, the cared income credit for applicable households is added to household income. subtracted from household income if one uses the standard deduction subtracted from household income if one itemizes doductions added to household taxes owed subtracted from household taxes Owed