When Someone Enjoys the Benefit of a Good or Service

question 104

Multiple Choice

When someone enjoys the benefit of a good or service but does not pay for it,that person

• A) is a free range consumer.
• B) is a free rider.
• C) receives no marginal benefit from the good.
• D) must be consuming an excludable good.
• E) is contributing to the tragedy of the commons.

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Definitions:

Exempt

Income, property, or persons not subject to taxation under certain conditions or qualifications.

Itemized Deduction

Itemized Deduction involves listing individual tax deductions for which a taxpayer qualifies, as opposed to taking a standard deduction, to reduce taxable income.

Tax Refund

The return of excess taxes paid to a taxpayer by the government, typically after the annual income tax filing.

Cash Receipts

The total amount of money, including cash, checks, and credit card payments, received by a business during a given period.