Adrian,an NFL Running Back,is Advised by His Physician to Install

question 4

Multiple Choice

Adrian,an NFL running back,is advised by his physician to install a Jacuzzi in his residence since he is afflicted with a back problem incurred after years of running into linebackers.The cost of installing the Jacuzzi is $6,500.He installs the Jacuzzi in January of 2016,and it increases the value of his residence by $3,500.Disregarding the limitation based on adjusted gross income,how much of the cost of the Jacuzzi may Adrian take into account in determining his medical expense deduction for 2016?

• A)$3,500.
• B)$6,500.
• C)$10,000.
• D)$3,000.

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Definitions:

Common Resources

Natural or man-made resources that are not owned by anyone, tend to be overused or depleted, and are difficult to exclude people from using.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used simultaneously by more than one person without diminishing availability to others.

Private Goods

Goods that are excludable and rival in consumption, meaning their use by one person prevents use by another.

Nonrival

A characteristic of a good whereby one person's consumption does not diminish the availability of that good for consumption by others.