All of the Following Are Tests for Determining Qualifying Relative

question 2

Multiple Choice

All of the following are tests for determining qualifying relative status except _____.

• A)relationship test
• B)gross income test
• C)support test
• D)residence test

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Definitions:

Tobacco Company

A company that produces and sells tobacco products, such as cigarettes, cigars, and pipe tobacco.

Utility-Maximizing

The principle that consumers will allocate their income in a way that maximizes their overall satisfaction or utility.

Investment Portfolio

An assortment of financial assets such as equities, bonds, raw materials, as well as liquid assets including mutual funds and exchange-traded funds (ETFs).

Indifference Curves

Graphical representations used in microeconomics to show combinations of two goods that provide a consumer with the same level of satisfaction.