Through the 2009 Cash for Clunkers Program, the United States

question 33

Multiple Choice

Through the 2009 Cash for Clunkers program, the United States government offered incentives to consumers who traded in older cars for new, more fuel-efficient vehicles. This program is an example of ________.

• A)tax relief to promote consumer saving
• B)government spending to increase economic cash flow
• C)limiting the supply of cash in the economy
• D)government regulation of the auto industry

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Definitions:

Depreciation

A technique for distributing the expense of a physical asset throughout its lifespan.

Commercial Substance

A term used in accounting to indicate that a transaction significantly changes the economic position of the parties involved.

Real Estate Commissions

Fees paid to real estate agents for services related to the buying or selling of property, usually calculated as a percentage of the sale price.

Legal Fees

Costs associated with legal services provided by attorneys or law firms to individuals or organizations.