Gross Income Consists of

question 55

Multiple Choice

Gross income consists of

• A)income from all sources.
• B)only earned income.
• C)all income less tax credits.
• D)all income subject to the federal income tax.

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Definitions:

Collusion

A secret agreement or cooperation between parties, often competitors, to deceive or defraud others, typically in the context of fixing prices or manipulating market outcomes.

Cartel

An association of independent companies or organizations that agree to limit competition between themselves, often to control prices and production.

Oligopoly

A market structure characterized by a small number of firms dominating the market, leading to limited competition and potentially higher prices for consumers.

Cartels

An association of independent firms or individuals that works together to control prices, limit supply, or restrict competition in a particular market, often illegally.