Marguerite and Josephus Have Two Children, Ages 13 and 10

question 1818

Multiple Choice

Marguerite and Josephus have two children, ages 13 and 10. Their modified AGI is $410,500. What is their child tax credit?

• A) $4,000
• B) $2,900
• C) $1,450.
• D) $2,000

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Definitions:

Free Trade

The unrestricted exchange of goods and services between countries without the imposition of tariffs, quotas, or other trade barriers.

Domestic

Relating to or occurring within a particular country; not foreign or international.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, measuring the benefit consumers receive from a transaction.

Free Trade

The absence of tariffs, duties, or trade barriers that allows for the unrestricted import and export of goods between countries.