Which of the following are taxpayers not allowed to deduct from taxable income?
a. state income taxes
b. local income taxes
c. property taxes
d. interest on auto loans
d
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Which of the following statements is true?
A) A budget constraint is the same for a consumer at all levels of income. B) A budget constraint is a function of the income of the consumer and not the prices of the goods and services available for consumption. C) A budget constraint quantifies the trade-offs that economic agents face while making decisions. D) A budget constraint is based on the minimum amount of money that an economic agent can spend on goods and services.
When a monopoly perfectly price discriminates, there is ________
A) no producer surplus B) an increase in supply C) no consumer surplus D) a large consumer surplus
Explain three of the shortcomings of the free-enterprise system
What will be an ideal response?
Suppose that the marginal propensity to consume? (MPC) is .8 and there is an increase in investment spending of? $100,000. As a? result, equilibrium real Gross Domestic Product? (GDP) would increase by
A. ?$800,000. B. ?$100,000. C. ?$500,000. D. ?$20,000.