To Qualify for the Child- and Dependent-Care Credit, the Taxpayer

question 122

True/False

To qualify for the child- and dependent-care credit, the taxpayer must have earned income and must incur qualified expenses for the care of qualified individuals.

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Definitions:

U.S. Net Exports

The value difference between what the United States exports to other countries and what it imports, which can be positive (surplus) or negative (deficit).

Aggregate Demand

The total call for goods and services throughout an economy, calculated at a predetermined price level during a given time period.

U.S. Financial Institutions

Organizations that provide financial services, such as banks, insurance companies, and stock exchanges, within the United States.

Bonds

A rephrased definition: Fixed-income investments that represent loans made by an investor to a borrower, typically corporate or governmental.