After ________, you are left with taxable income.
A. paying income taxes
B. deducting all of your yearly expenses from the income you received
C. adding all deductions and exemptions to total income
D. subtracting all deductions and exemptions from total income
Answer: D
You might also like to view...
When there is a positive externality in a free market, too much of the good is produced and consumed
Indicate whether the statement is true or false
Suppose the U.S. economy is producing at the natural rate of output. An appreciation of the U.S. dollar will cause ________ in real GDP in the short run and ________ in inflation in the long run, everything else held constant
(Assume the appreciation causes no effects in the supply side of the economy.) A) an increase; an increase B) a decrease; a decrease C) no change; an increase D) no change; a decrease
What is the last dollar rule for cost-minimization? Provide a brief explanation (in words) as well as the corresponding mathematical equality
If the firm is producing at a point where the isocost line is steeper than the isoquant, what does the last dollar rule imply (i.e., where is the last dollar most productive, L or K) and how should the firm alter its capital and labor in the long run?
A price ceiling is
a. the lowest price that the law will allow to be charged in the market b. the highest price that the law will allow to be charged in the market c. the price that must be charged in the market d. imposed if the government believes the equilibrium price is too low e. applicable only in nonessential goods markets