Which of the Following Credits Is Considered a Refundable Credit

question 127

Multiple Choice

Which of the following credits is considered a refundable credit?

• A)child and dependent care credit
• B)earned income credit
• C)adoption expense credit
• D)lifetime learning credit

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Definitions:

Trade-offs

The evaluation and choice between competing alternatives in situations where having one benefit often means giving up another.

Government Purchases

Expenditures made by the government for goods and services that are consumed by the public or that have a direct impact on the economy's aggregate demand.

Inflation Rate

The speed at which the overall price level of goods and services increases, leading to a decrease in the value of money.

Unemployment Rate

The percentage of the total labor force that is unemployed but actively seeking employment and willing to work.