Benjamin, Age 16, Is Claimed as a Dependent by His

question 123

True/False

Benjamin, age 16, is claimed as a dependent by his parents.During 2012, he earned $700 at a car wash.Benjamin's standard deduction is $1,250 ($950 + $300).

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Definitions:

High Risk Assets

Investments that offer the potential for higher returns but come with a greater possibility of loss.

Return

The process of bringing back a purchased product to the seller or store, often for a refund or exchange.

Monopoly Firm

A company that is the sole provider of a product or service in a market, resulting in a lack of competition.

Price Maker

A market participant with the power to influence the price of a good or service by altering its supply, demand, or both.