Gift splitting permits a married couple to merge their gift tax exemptions to help enhance the advantages of tax-free gifting.
<h3>What is a gift-splitting gift?</h3>
This method is not automatic, and the ability to split gifts requires that certain prerequisites are met, including the consent of both spouses on a pointed federal gift tax return.
Gift splitting allows a wedding couple to combine their gift tax exemptions to help enhance the advantages of tax-free gifting.
The unified tax credit gives a set dollar quantity that an individual can gift during their lifetime and give on to heirs before any gift or estate taxes apply.
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Answer and Explanation:
The computation of the effect on real GDP is shown below:
change in GDP is
= Multiplier × change in investment
= 1 ÷ (1 - MPC) × change in investment
= 1 ÷ (1 - 0.65) × $150 billion
= 2 × $150 billion
= $300 billion
And, the marginal propensity to consume is
= Change in spending of consumer ÷ income change
= (2,100 - 1,200) ÷ (4,000 - 3,000)
= 900 ÷ 1,000
= 0.9
Answer: <em>True</em>
Explanation:
The following statement is true, i.e. In accordance to the equity theory, she will try to change the working habits. The equity theory mostly concentrates on evaluating whether the allocation of commodities and resources is impartial to both of the relational partners. Here, equity is evaluated by contrasting the ratio in between the costs and rewards for each individual.
Answer: Andy's demand for beer to increase
Explanation:
Andy's views beer and pizza as complement to each other. Hence when the price of pizza decreases Andy's demand for beer would increase as he would order more beer than pizza so as to complement both offers.
Answer:
D. All of the above.
Explanation:
In the Aggregate Expenditure model or approach to GDP, GDP is calculated using the following formula:
GDP = C + I + G + NX (X-M)
Where:
- C = consumption
- I = Investment
- G = Government spending
- NX = Net exports
As can be seen, each of the elements of the equation are necessary to understand (calculate) GDP by the AE approach. Each element is also important to show how macroeconomic equilibrium is reached. Thus, the correct answer is D.
