Which of These Is Not a Correct Citation to the Internal

question 47

Multiple Choice

Which of these is not a correct citation to the Internal Revenue Code?

• A)Section 211.
• B)Section 1222(1).
• C)Section 2(a)(1)(A).
• D)Section 280B.
• E)All of above are correct cites.

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Definitions:

Demand Schedule

A table that shows the quantity of a good that consumers are willing and able to purchase at various prices.

Total Utility

The overall satisfaction or value a consumer derives from consuming a certain amount or quantity of goods and services.

Marginal Benefit

The maximum price a consumer will be willing to pay for an additional unit of a product. It is the dollar value of the consumer’s marginal utility from the additional unit, and therefore it falls as consumption increases.

Opportunity Cost

The loss of potential gain from other alternatives when one alternative is chosen over others.