Use the drop-down menus to answer the questions. In this circular flow mode, what does the letter A present? What does the lette
r B represent? What does the letter C represent? What does the letter D represent?
2 answers:
Answer:
Letter A represents the financial sector. The financial sectors channels private savings into investments.
Letter B represents the government sector. Governments finance their spending through taxes and public debt.
Letter C represents the foreign sector. Net exports = exports - imports.
Letter D represents leakages, or money that exits the economy reducing total expenditure.
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<u>Solution and Explanation:</u>
As per the income tax, if the income of a single taxpayer lies in the range of $65000 and $80000, the taxpayer is elgibile for a prtial deduction on his/her education on loan interest.
The partial interest deduction amount is calculated as follows:
Partial interest deduction allowed =
= $320
Therefore, the allowed interest deduction in this case is $320.