Which of the Following Are Deductions for AGI

question 125

Multiple Choice

Which of the following are deductions for AGI?

• A) Mortgage interest on a personal residence.
• B) Property taxes on a personal residence.
• C) Mortgage interest on a building used in a business.
• D) Fines and penalties incurred in a trade or business.
• E) None of the above.

---

Definitions:

Quantity Sold

The total number of units of a product or service that have been purchased in a given period.

Price Elasticity

A measure of how much the quantity demanded or supplied of a good changes in response to a change in its price.

Demand Curve

A visual chart that illustrates how the quantity of a product or service desired by buyers varies with its price.

Unitary Elasticity

A situation in economics where a change in the price of a good or service results in a proportional change in the quantity demanded or supplied.