In GDP Measurement,consumer Spending Includes

question 55

Multiple Choice

In GDP measurement,consumer spending includes

• A)spending by businesses on labor resources
• B)spending by government on office buildings
• C)spending by individual households on automobiles and durables
• D)exchanges in business inventories
• E)a firm's purchase of a radio made in Taiwan

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Definitions:

Nontaxable Social Security Benefits

Portions of Social Security payments that are not subject to income tax under certain conditions.

Joint Return

Joint Return is a tax filing status that allows married couples to combine their income, exemptions, deductions, and credits on a single tax return.

AGI

A computation of your earnings from your overall income, Adjusted Gross Income is employed to identify the amount of your earnings that is subject to tax.

Child And Dependent Care Credit

A tax credit offered to taxpayers for expenses related to the care of children under 13 or disabled dependents, enabling the taxpayer to work or look for work.