The Hutters Filed a Joint Return for 2018

question 21

Multiple Choice

The Hutters filed a joint return for 2018. They provide more than 50% of the support of Carla, Ellie, and Aaron. Carla (age 18) is a cousin and earns $2,800 from a part-time job. Ellie (age 25) is their daughter and is a full-time law student. She received a $7,500 scholarship for tuition from her law school. Aaron is a brother who is a citizen of Israel but resides in France. Carla and Ellie live with the Hutters. How many dependents can the Hutters claim?

• A) None
• B) One
• C) Two
• D) Three

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Definitions:

Demand Rises

An increase in the quantity of a product or service that consumers are willing and able to purchase at a given price level.

Given Demand Curve

A graphical representation of the relationship between the price of a good or service and the quantity demanded by consumers at various price levels.

Excess Quantity Demanded

A situation where the quantity demanded of a good or service exceeds the quantity supplied at a particular price.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded.