Compared to the Bush Administration, the Obama Administration Has Placed

question 40

Multiple Choice

Compared to the Bush administration, the Obama administration has placed a greater emphasis on ______ in foreign policy.

• A) deterrence
• B) military defense actions
• C) diplomacy and foreign aid
• D) economic trade policies

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Definitions:

AGI

Adjusted Gross Income, the total income minus specific deductions, serving as a basis for calculating taxable income and certain tax credits.

Section 1231 Gain

A gain from the sale or exchange of property used in a business or trade that is treated as capital gain for tax purposes, providing tax advantages.

Section 1245 Gain

A tax term referring to the gain from the sale or disposal of certain types of depreciable property, where the gain is recaptured as ordinary income.

Ordinary Income

Refers to the type of income earned by an individual that is subject to standard tax rates, including wages, salaries, commissions, and income from interest or dividends.