This Year Zach Was Injured in an Auto Accident

question 91

Multiple Choice

This year Zach was injured in an auto accident. As a result, he received the following payments. Zach received $18,000 of disability pay. Zach has disability insurance provided by his employer as a nontaxable fringe benefit. Zach's employer paid $4,300 in disability premiums for Zach this year.
Zach's hospital bills totaled $4,500 and were paid by his health insurance. Zach has health insurance provided by his employer as a nontaxable fringe benefit. Zach's employer paid $6,250 in health insurance premiums for Zach this year.
What amount must Zach include in his gross income?

• A) $22,500
• B) $18,000
• C) $4,500
• D) $10,550
• E) Zero - None of these benefits is included in gross income.

Interpret economic diagrams related to trade and tariffs.

Evaluate the overall welfare effects of trade on a country.

Identify the effects of trade on domestic production and consumption.

Understand the role of world price in determining whether a country will import or export a good.

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Definitions:

Munchausen Syndrome

A psychiatric disorder wherein an individual deliberately produces, feigns, or exaggerates symptoms of illness to gain attention, sympathy, or reassurance from medical personnel or others.

Treatment

Interventions or procedures intended to relieve or heal a disorder, typically involving therapeutic, surgical, or medication-based approaches.

Intentionally

Done with purpose or deliberation; not accidental or unintentional.

Symptoms

Observable signs or manifestations of a condition or disease experienced by an individual.