In a Decreasing Cost Industry, as Output Grows Over Time

question 30

Multiple Choice

In a decreasing cost industry, as output grows over time,

• A)Prices will fall
• B)Prices will rise
• C)Prices will stay the same
• D)Prices are zero

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Definitions:

Distance Test

Specifically related to moving expense deductions, it's the requirement that a new job location must be a certain minimum distance further from the taxpayer's old home than the old job location was.

Moving Expense Deductions

Tax deductions that were available for taxpayers to deduct certain expenses related to moving for a job, although largely suspended since 2018 for non-military taxpayers.

HSA

Health Savings Account; a savings account that allows individuals to set aside money pre-tax for medical expenses.

Form 8889

The tax form used for reporting contributions, distributions, and taxes related to Health Savings Accounts (HSAs).