Georgia Contributed $2,000 to a Qualifying Health Savings Account in 2010.The

question 50

True/False

Georgia contributed $2,000 to a qualifying Health Savings Account in 2010.The entire amount qualifies as a medical expense and is potentially deductible as an itemized deduction.

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Definitions:

Equilibrium Position

In the indifference curve model, the combination of two goods at which a consumer maximizes his or her utility (reaches the highest attainable indifference curve), given a limited amount to spend (a budget constraint).

Economic Resources

The land, labor, capital, and entrepreneurial ability that are used to produce goods and services; the factors of production.

Marginal Costs

The extra expense generated from the production of an additional unit of a product or service.

R&D Costs

Expenses related to the research and development activities of a company, often aimed at discovering new products or improving existing products.