Which of the Following Are Not Included in Gross Income

question 20

Multiple Choice

Which of the following are not included in gross income?

• A)Clergy fees and contributions.
• B)Welfare payments.
• C)Jury duty fees.
• D)Punitive damages.
• E)Gains from illegal activities.

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Definitions:

Import Competition

The competition between domestic products and foreign products in a domestic market, affecting local industries.

Herfindahl Index

A measure of the concentration of industries or markets, calculated as the sum of the squares of the market shares of the largest firms, used to assess the extent of competition.

Concentration Ratios

measures that indicate the extent to which a small number of firms dominate the sales, output, or capacity in a particular market.

Game Theory

A theoretical framework for conceiving social situations among competing players and predicting their optimal decisions.