In 2017 Lindsey Accepts a Job in a New State

question 67

Multiple Choice

In 2017 Lindsey accepts a job in a new state. She spends $4,000 for packing and moving household goods, $1,200 to break the lease on her apartment, and $1,500 to store the household goods for 45 days. In April she drove her car 1,400 miles to her new home and spent $250 for motels and $80 for meals while traveling to the new home. The 2017 standard mileage rate for business miles is 53.5 cents per mile and the rate for moving is 17 cents per mile. What are Susie's deductible moving expenses?

• A) $4,516
• B) $5,488
• C) $6,098
• D) $7,216

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Definitions:

Common Resources

Resources like air or water that are not owned by anyone, cannot be consumed by one user without reducing available supply for others, and are available to all.

Private Market

A market in which transactions occur directly between private sector buyers and sellers without significant government regulation or intervention.

Marginal Social Benefit

The additional benefit to society as a whole from producing or consuming one more unit of a good.

Public Good

A product or service that is provided without profit to all members of a society, either by the government or a private individual or organization, characterized by non-excludability and non-rivalry.