Mr and Mrs

question 21

Multiple Choice

Mr. and Mrs. Lansing, who file a joint tax return, have four dependent children under age 17. Which of the following statements is false?

• A) If the Lansings' AGI is $77,900, their child tax credit is $8,000.
• B) If the Lansings' AGI is $417,300, their child tax credit is $7,100.
• C) If the Lansings' AGI is $596,000, their child tax credit is zero.
• D) None of these choices arefalse.

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Definitions:

Trade Agreements Act

Legislation aimed at fostering fair and open international trade by implementing tariff concessions and other trade-related provisions.

Dumping

The practice of exporting goods at a price lower than their normal value, often with the intention of undermining local markets or competitors.

General Agreement on Tariffs and Trade

An international treaty that was aimed at reducing tariffs and other trade barriers to promote international trade; it was the precursor to the WTO.

Trade Restrictions

Measures imposed by governments to limit or control international trade, such as tariffs, quotas, and embargoes.