Which, If Any, of the Statements Regarding the Standard Deduction

question 25

Multiple Choice

Which, if any, of the statements regarding the standard deduction is correct?

• A)Some taxpayers may qualify for two types of standard deductions.
• B)The standard deduction is not available to taxpayers who choose to deduct their personal and dependency exemptions.
• C)The standard deduction may be taken as a for AGI deduction.
• D)The basic standard deduction is indexed for inflation but the additional standard deduction is not.
• E)None of these.

---

Definitions:

Demand Curve

A visual depiction highlighting how the cost of a good influences the quantity that buyers seek.

Price

The amount of money required to purchase a good or service; it acts as a signal between sellers and buyers.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit to consumers.