Renting a Residence May Have Nontax Advantages Over Owning a Home

question 33

True/False

Renting a residence may have nontax advantages over owning a home.

---

Definitions:

Unemployment Insurance

is a government program that provides temporary financial assistance to eligible workers who are unemployed through no fault of their own.

Misery Index

The misery index is an economic indicator created by adding the unemployment rate to the inflation rate, designed to measure the health of an economy.

Prime Rate

The interest rate that commercial banks charge their most creditworthy customers, often used as a reference rate for various types of loans.

Inflation

The advancement rate at which the general price levels of goods and services elevate, diminishing spending power.