Economists John Cogan, Glenn Hubbard, and Daniel Kessler Have Estimated

question 1

Multiple Choice

Economists John Cogan, Glenn Hubbard, and Daniel Kessler have estimated that repealing the tax preference for employer-provided health insurance would

• A)significantly reduce the effectiveness of the health care received by those enrolled in these programs.
• B)increase overall spending on health care as consumers would have to pay a higher price for medical services.
• C)drive up prices for health care coverage since insurance reimbursements to doctors would be reduced.
• D)reduce spending by people enrolled in these programs by 33 percent.

Describe the conditions under which the earned income credit is available and how it's adjusted for inflation.

Determine qualifying expenses for education credits and how they are calculated.

Understand the criteria for qualifying individuals for the child and dependent care expenses credit.

Recognize the impact of AGI on the availability and amount of various tax credits including the retirement savings contributions credit.

---

Definitions:

Nucleotide

The basic building block of nucleic acids, such as DNA and RNA, comprised of a sugar, a phosphate group, and a nitrogenous base.

Phosphate Group

A functional group or radical comprising one phosphorus atom connected to four oxygen atoms, often involved in energy transfer in biological systems.

Five-Carbon Sugar

A type of sugar molecule that contains five carbon atoms, examples include ribose and deoxyribose, important in RNA and DNA structures.

Plasmids

Small, circular, double-stranded DNA molecules found in bacteria and some yeasts, separate from chromosomal DNA and often carry genes beneficial for survival.