Indicate Whether Each Item Below Would Be Included in or Excluded

question 123

Essay

Indicate whether each item below would be included in or excluded from the income of the recipient.
a.Payment for laboratory assistant position at University of California State
b.A $1,000 scholarship for tuition
c.College books paid for by grandma and grandpa
d.A $1,000 college loan
e.A scholarship for room and boardf.A new car given to recruit a professional basketball playerg.A scholarship used for supplies and equipment that are required for courses

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Definitions:

Economic Thought

The evolution and diversity of ideas and philosophies regarding how economies operate and should be managed.

Landlord's Claim

The rights or interest a landlord holds in a property, including the right to receive rent and enforce lease terms.

Price Ceiling

Government-imposed maximum legal price.

Price Floor

Government-imposed minimum price (used almost exclusively to keep agricultural commodity prices up).