Which of the Following Is Not a Feature of a Registered

question 69

Multiple Choice

Which of the following is not a feature of a registered education savings plan (RESP) ?

• A)Certain amounts received from an RESP account will be tax-free.
• B)An RESP contributor receives a tax deduction for the contributions.
• C)The first $2500 of annual RESP contributions will be matched by a 20 percent Canada Education Savings Grant from the government.
• D)An RESP is intended to be used to save your children's future post-secondary education tuitions.

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Definitions:

Own Price Elasticity

The responsiveness of the quantity demanded of a good to a change in its own price, holding other factors constant.

Delicacy Market

A sector of the food industry focused on selling rare, expensive, or gourmet items considered highly desirable.

Demand for Nike Shoes

The consumer desire and willingness to purchase Nike brand footwear, influenced by factors like price, quality, and brand loyalty.

More Elastic

Describes a situation where the demand for a product or service is more sensitive to changes in price, meaning consumers are more likely to increase or decrease their quantity demanded in response to price changes.