Examlex
When a firm's long-run average cost is constant as output increases, the firm is experiencing constant returns to scale.
Dependent Child
A child who meets certain IRS criteria, thereby allowing the taxpayer to claim certain tax benefits, such as the child tax credit.
Taxable Income
This is the portion of one's income that is subject to taxes, after all deductions, exemptions, and adjustments.
Interest Charged
The cost incurred for borrowing money, typically expressed as a percentage rate over a period of time.
IRS
The Internal Revenue Service, a U.S. federal agency responsible for the collection of taxes and enforcement of tax laws.
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