The Child and Dependent Care Provisions

question 69

Multiple Choice

The child and dependent care provisions:

• A)Apply only to children under age 15.
• B)Are available only to single parents.
• C)Are available for spouses incapable of self-care.
• D)Are allowed only for taxpayers earning less than $43,000.

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Definitions:

Higher Wage

An increased rate of pay or salary for employees, often sought after in negotiations or as a result of economic or institutional changes.

Leisure Time

Time that an individual can spend at their own discretion, not occupied by work or domestic responsibilities.

Substitution Effect

The change in consumption patterns due to a change in the relative prices of goods, leading consumers to replace more expensive items with less costly alternatives.

Higher Wage

Refers to an increase in the amount of money that an employee receives for performing one hour or another standard unit of work.