On June 1,2015,Ellen Turned 65

question 106

Multiple Choice

On June 1,2015,Ellen turned 65.Ellen has been a widow for five years and has no dependents.Her standard deduction is

• A)$4,000.
• B)$6,300.
• C)$7,850.
• D)$12,600.

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Definitions:

Marginal Utility

The increase in satisfaction or useful value obtained from the consumption of yet another unit of a good or service.

Milkshakes

A sweet, cold beverage made from blending milk, ice cream, and flavorings or sweeteners such as butterscotch, caramel sauce, or chocolate syrup.

French Fries

Refers to the popular side dish made from potatoes that are cut into strips and fried.

Utility

In economics, a measure of the satisfaction or happiness that individuals get from consuming goods and services.