Which One of the Following Individuals Likely Would Not Have

question 30

Multiple Choice

Which one of the following individuals likely would not have to make quarterly estimated payments?

• A)A child with $10,000 trust income
• B)An individual whose only income is salaries and wages
• C)A self-employed individual with net income of $15,000
• D)An individual with a large stock and bond portfolio

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Definitions:

External Cost

Costs of a transaction or activity that affect people other than those directly involved in the transaction, often not reflected in the market prices.

Social Cost

The total cost to society of an action, including both private costs borne by individuals and external costs absorbed by others.

Gallon

A unit of volume for liquid measure equal to four quarts, used in the United States and the United Kingdom.

Equilibrium Quantity

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