What Is the Maximum Percentage of Last Year's Earned Income

question 84

Multiple Choice

What is the maximum percentage of last year's earned income that can be contributed to an RRSP?

• A)15%
• B)18.
• C)45%
• D)50%
• E)60%

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Definitions:

Real Federal Spending

Government expenditure adjusted for inflation, reflecting the actual value of goods and services purchased by the federal government.

Inflation

The rate of growth in the general price level of goods and services, which decreases the power of purchase.

Reagan Administration

The presidency of Ronald Reagan, the 40th President of the United States, from 1981 to 1989, known for its conservative policies, economic reforms, and role in ending the Cold War.

Clinton Administration

The executive branch of the U.S. government from 1993 to 2001, under President Bill Clinton.