Assume That a Job Package Is Characterized by the Pair

question 15

Multiple Choice

Assume that a job package is characterized by the pair (w,z) where w is the wage,and z is a single undesirable non-wage job attribute.A firm's iso-profit curves:

• A) are finite in number.
• B) correspond to exactly zero economic profits.
• C) represent a set of (w,z)pairs that yield a particular equal level of profits.
• D) are convex to the origin.
• E) are strictly increasing.

Understand the calculation of the premium tax credit including the factors that affect the credit amount.

Identify and understand the criteria for a qualifying child for the purpose of EIC and other tax benefits.

Differentiate between refundable and nonrefundable tax credits and provide examples of each.

Understand the requirements for the child and dependent care credit, including how it is calculated and how certain statuses (e.g., student status of a spouse) affect it.

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