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The Standard Deduction in 2013 for a Single Filer Is

question 156

True/False

The standard deduction in 2013 for a single filer is $6,100 and for married people filing jointly is $12,200.


Definitions:

Marginal Utilities

Refers to the additional satisfaction or utility that a consumer receives from consuming one more unit of a good or service.

Lagrangian Multiplier

A method employed in constrained optimization issues to identify the function's maximum or minimum while adhering to certain restrictions.

Marginal Utility

The additional satisfaction or utility that a consumer gains from consuming one more unit of a good or service.

Consumption

The act of using goods and services by households or individuals, leading to the depletion of wealth.

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