Which of the Following Is an Example of a Gift

question 7

Multiple Choice

Which of the following is an example of a gift inter vivos?

• A) Tom is promised a watch by his uncle in case he dies during an operation.
• B) Eva receives a car as a birthday gift from her father.
• C) Casey inherits a huge mansion according to his late grandfather's will.
• D) A charity home receives a huge grant from its dead benefactor's trust.

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Definitions:

Market Demand Curve

A graphical representation showing the quantity of a good that all consumers in a market are willing to buy at each price level.

Income Effect

The change in an individual's consumption resulting from a change in real income, with shifts in purchasing power influencing spending behaviors.

Efficient Production Technologies

Technologies that enable the production of goods and services using the least amount of resources for the maximum output.

Supply Curves

Graphical representations showing the relationship between the price of a good or service and the quantity supplied for a given period.