Examlex
Which of the following is not a requirement to claim an earned income credit?
a.Social Security number
b.At least one child claimed as a dependent
c.At least $1 of earned income
d.US citizenship or resident alien status
Total Utility
The overall satisfaction or benefit a person receives from consuming a certain amount of goods or services.
Utility Maximization
The principle that individuals or firms seek to allocate their resources in a manner that maximizes their satisfaction or utility.
Money Income
Money income is the total amount of money earnings received by an individual or household, including wages, salaries, benefits, and investment income, before any deductions.
Marginal Utility
The additional satisfaction or utility a consumer receives from consuming one additional unit of a good or service.
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