Connie Is a 20 Year Old College Student Who Earned

question 12

Multiple Choice

Connie is a 20 year old college student who earned $8,000 and spent it all on her support during the year.Her parents may claim her as a tax dependent as long as

• A) they contribute more than half her support for the year.
• B) she is under 21.
• C) she makes under $10,000.
• D) she lives at home.
• E) all these things are true.

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Definitions:

Price Decrease

A reduction in the cost of goods or services, often reflective of changes in supply and demand, competition, or production costs.

Personal Computers

Electronic devices designed for individual use, capable of executing a wide range of applications, from word processing and web browsing to gaming and programming.

Normal Good

A good for which demand increases as consumer income rises, and decreases as consumer income falls.

Income Increase

An income increase refers to a rise in the amount of earnings received by an individual or household, which can affect purchasing power and economic status.