Tim Has the Authority to Use Force to Protect the Property

question 21

Multiple Choice

Tim has the authority to use force to protect the property in his warehouse.He authorizes a security guard he hires to protect the warehouse.The security guard uses force to stop a thief.Is the security guard liable if the thief sues him for causing injury?

• A)No,because Tim was privileged to act in defense of his property and he authorized his agent to do the same.
• B)It depends on whether Tim delegated express authority to the security guard or whether the authority was implied.
• C)Only if the security guard used excessive force.
• D)Yes,the security guard is liable.

Define and explain autonomous consumption.

Calculate savings for given levels of disposable income.

Understand and calculate the Average Propensity to Save (APS) and the Average Propensity to Consume (APC).

Define and calculate the Marginal Propensity to Consume (MPC) and the Marginal Propensity to Save (MPS).

---

Definitions:

Medical Expenses

Costs incurred for the diagnosis, cure, mitigation, treatment, or prevention of disease, or for treatments affecting any part or function of the body, which can sometimes be deducted from taxes.

Health Insurance Premiums

Regularly scheduled payments made to an insurance company to maintain health insurance coverage.

Adjusted Gross Income

A measure of income calculated from your gross income and used to determine how much of your income is taxable after adjustments are made for deductions or exemptions.

Miscellaneous Deductions

Refers to various deductions that taxpayers can claim to reduce taxable income, not fitting into standard deduction categories, often subject to certain thresholds.