Itemized deductions are reductions of adjusted gross income that depend on
A. family size.
B. how money is spent (e.g. on state and local taxes or home mortgage interest).
C. family structure (i.e. filing status).
D. how much money is saved.
Answer: B
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Explain how savings equals investment in a closed capitalist economy?
What will be an ideal response?
As imports rose in 13 major industries studied by Shepherd, these U.S. producers, finding themselves at a cost and quality disadvantage relative to imported goods, initially responded by
a. improving technology b. exiting the industry c. seeking trade barriers d. asking that quotas and tariffs be removed e. raising prices to recoup their losses
Which of the following is not an example of market failure?
a. Lack of competition b. Efficient equilibrium c. Extreme income inequality d. Externalities
Which of the following is one possible explanation for the change in the natural rate of unemployment in the United States during the 1970s?
A) contractionary fiscal policy B) an increase in the proportion of labor contracts that were indexed C) contractionary monetary policy D) all of the above E) none of the above