Colin (Single and Age 40) Has AGI of $100,000

question 42

Multiple Choice

Colin (single and age 40) has AGI of $100,000. Colin provided the following information about his cash expenditures for 2018: Interest on loan to purchase corporate securities $ 900
Interest on American Express card 1,200
Points to refinance his home for 10 years at the end of December 2,600
Mortgage interest payments 11,800
Real estate taxes 2,100
State income taxes withheld on salary 5,400
Additional state income tax estimated payment 1,200
Contribution to Republican Party 2,000
Contribution to United Way 500
If Colin does not itemize, what is his total deduction from AGI in 2018:

• A) $4,050
• B) $6,350
• C) $10,400
• D) $12,000

Understand and apply the concept of production functions and input-output relationships in the context of economic theory.

Calculate the total costs of production using different combinations of labor and capital (or machines) given specific cost constraints.

Identify and analyze the effects of changes in input prices on the cost of production and the firm's input choices.

Apply the concept of cost minimization in determining the optimal combination of inputs for producing a given level of output.

---

Definitions:

Styles of Love

Diverse manners or expressions of love, as theorized by psychologists, including romantic, platonic, familial, and self-love.

Proximity

The state of being near or next to something or someone.

Eye Contact

The act of looking directly into another person's eyes, often used as a means of communication.

Initiating Sexual Interactions

The act or process of starting sexual activities or behaviors with another person.