For Purposes of the Dependency Exemption,a Qualifying Child Must Be

question 17

True/False

For purposes of the dependency exemption,a qualifying child must be under age 19,a full-time student under age 24,or a permanently and totally disabled child.

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Definitions:

MPC

The marginal propensity to consume, indicating the proportion of an additional unit of income that is spent on consumption.

MPS

Marginal Propensity to Save, which is the portion of additional income that a household saves rather than consumes.

APS

Assumes "APS" refers to "Average Propensity to Save," which is the proportion of total income or output that is saved rather than spent on consumption.

Induced Consumption

Refers to the portion of consumer spending that increases or decreases in response to changes in income.