All of the Following Statements About the Lifetime Learning Credit

question 6

Multiple Choice

All of the following statements about the lifetime learning credit is correct except:

• A)Available for graduate course work.
• B)Available for undergraduate course work.
• C)Credit may only be used for five years.
• D)Provides a tax credit for qualified education expenses.

---

Definitions:

CPI

Consumer Price Index, an indicator that measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

GDP Deflator

A measure of the price level of all domestically produced goods and services in a country and is used to convert output measured at current prices into constant-dollar GDP.

Economists

Experts focused on exploring how goods and services are created, shared, and used, while examining trends and problems in the economy.

CPI

The Consumer Price Index reflects the average cost changes over time for a mix of consumer goods and services, including items such as food, medical care, and transportation, through a weighted average approach.