A personal exemption refers to

A) an amount representing basic living expenses that can be subtracted from income.
B) the tax bracket that represents basic living expenses.
C) the tax rate that applies to a particular tax bracket.
D) a dispensation that allows certain qualifying individuals not to pay federal taxes.


A

Economics

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A single-price monopoly can sell 2 units for $8.50 per unit. In order to sell 3 units, the price must be $8.00 per unit. The marginal revenue from selling the third unit is

A) $24.00. B) $8.50. C) $7.00. D) $6.50. E) $17.00.

Economics

The excludability versus nonexcludability issue is

A. relevant to the issue of market failure. B. not relevant to the issue of market failure. C. relevant to the free-rider problem. D. a and c E. b and c

Economics

Draw a demand and supply curve for a competitive product, making sure to clearly label the axis. Give a brief explanation for why the resulting equilibrium is economically efficient

What will be an ideal response?

Economics

The Phillips curve assumes that shocks to the economy come from the demand side

a. True b. False Indicate whether the statement is true or false

Economics