The Section 179 Expense Deduction Is Allowed on All Depreciable

question 103

True/False

The Section 179 expense deduction is allowed on all depreciable and tangible property used in a trade or business.

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Definitions:

Classical Economists

Economists from the late 18th and early 19th centuries who focused on the role of free markets in economic development and emphasized the importance of limited government intervention.

Full Employment

The situation in an economy where all who are willing and able to work at prevailing wage rates are employed, with no involuntary unemployment.

Discretionary Fiscal Policy

Involves the use of government spending and tax policies to influence the economy, based on current economic conditions and objectives.

Natural Rate

The natural rate is a concept in economics describing conditions where the economy is at equilibrium, with full employment and no inflationary or deflationary pressures.