If a household has a single woman and three kids, has a standard deduction of $6,300, has itemized deductions of $10,650, and personal exemptions of $12,000 (3*$4,000), then the first ________ of income is federal income tax free.
A. $18,300
B. $22,650
C. $16,850
D. $28,950
Answer: B
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Based on the figure above, in which quarter or quarters did a peak occur?
A) between 2012, 2nd quarter to 2013, 2nd quarter and also between 2014, 2nd quarter to the end of the figure B) in 2013, 2nd quarter C) in 2014, 2nd quarter D) between 2013, 2nd quarter to 2014, 2nd quarter E) There are no peaks illustrated in the figure.
Compare and contrast the tax base with the tax rate structure
What will be an ideal response?
When an economy is operating efficiently, which is TRUE?
A) All resources are fully employed. B) It would be possible to increase the output of 1 good without decreasing the output of the other. C) Resources are not fully employed or current technology is not being fully utilized. D) This economy is operating to the right of its production possibilities curve (PPC).
Which of the following is not generally true about a profit-maximizing monopolist? a. The monopolist faces a perfectly elastic demand curve
b. The monopolist can potentially continue to earn economic profits in the long run. c. The monopolist charges a price that exceeds marginal cost. d. The monopolist chooses output where marginal revenue equals marginal cost.