Derek, Age 46, Is a Surviving Spouse

question 92

True/False

Derek, age 46, is a surviving spouse.If he has itemized deductions of $12,100 for 2012, Derek should not claim the standard deduction.

---

Definitions:

Price-Fixing

An illegal agreement among competitors to maintain prices at a certain level, preventing competition.

Antitrust Laws

Laws designed to promote competition and prevent monopolies, thereby protecting consumers from unfair business practices and ensuring a variety of goods and services in the market.

Sherman Act

A foundational antitrust law in the United States that outlaws monopolistic practices and promotes competitive markets.

Clayton Act

A U.S. legislation enacted in 1914 aimed at promoting competition among businesses by prohibiting certain practices that would lead to antitrust issues.