A Married Couple with Four Children May Give Tax-Free Gifts

question 79

Multiple Choice

A married couple with four children may give tax-free gifts up to ________ each year to their children, effective 2018.

• A) $44,000
• B) $66,000
• C) $88,000
• D) $120,000

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Definitions:

Competing Firms

are companies operating in the same industry or market that offer similar products or services to consumers.

Government Regulate

The activities undertaken by government authorities to control or oversee specific industries, practices, or market activities usually to ensure public welfare or fair market competition.

Economic System

The structure of methods and principles a society uses to produce and distribute goods and services.

Price Mechanism

The way in which the forces of supply and demand determine the price of goods and services in a free market.