Which of the Following CANNOT Be Eliminated in a Growing

question 298

Multiple Choice

Which of the following CANNOT be eliminated in a growing economy such as the U.S. economy?

• A) absolute poverty
• B) relative poverty
• C) both absolute and relative poverty
• D) Neither absolute nor relative poverty can be eliminated.

---

Definitions:

Trade or Business Expenses

Trade or business expenses are the costs of carrying on a trade or business, and these expenses are usually deductible if the business operates to make a profit.

For AGI Deduction

For AGI deductions, also known as above-the-line deductions, reduce gross income to arrive at adjusted gross income and can include expenses such as certain business expenses, alimony payments, and contributions to retirement accounts.

Material Amount

A sum of money that is large enough to influence decisions or the perception of a company's financial performance.

Sole Proprietorship

A business structure where a single individual owns and operates the business, bearing full responsibility for its debts and obligations.