For Purposes of the Dependency Exemption,a Qualifying Child May Not

question 148

True/False

For purposes of the dependency exemption,a qualifying child may not provide more than one-half of his or her own support during the year.

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Definitions:

American Consumer

An individual in the United States who purchases goods and services for personal use.

Frederic Bastiat

A 19th-century French economist and writer known for his advocacy of free trade and his witty criticisms of protectionism and socialism.

Adam Smith

A Scottish economist, philosopher, and author, often considered the father of modern economics known for his theories on free markets and the 'invisible hand' guiding economies.

Free Trade

An economic policy that allows imports and exports with little to no government tariffs, quotas, or subsidies, aiming to enhance global economic efficiency.