In 2016,Brett and Lashana (Both 50 Years Old)file a Joint

question 123

Multiple Choice

In 2016,Brett and Lashana (both 50 years old) file a joint tax return claiming as a dependent their son who is blind.Their standard deduction is

• A)$12,600.
• B)$13,850.
• C)$14,150.
• D)$7,850.

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Definitions:

MRP

MRP stands for Marginal Revenue Product, which is the additional revenue generated from employing one more unit of a factor of production, such as labor or capital.

Nonunionized

Workplaces or employees that are not part of a labor union and do not engage in collective bargaining.

Efficiency Wages

Wages that are deliberately set above the market equilibrium level by employers to increase productivity and efficiency among employees.

Below-equilibrium

A situation where the quantity demanded exceeds the quantity supplied at a given price.