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Ethan, age 67, and Abigail, age 64, with good eyesight, are married and file a joint tax return. They have adjusted gross income of $1,200,000 for 2018. They have only $5,000 of itemized deduction, so they claim their standard deduction. How much of their standard deduction is phased out in 2018?
Glocalization
The process of reflecting and adapting global practices to fit local needs, customs, and environments, blending global and local perspectives.
Modernization Theory
A theory suggesting that societies progress through similar stages of development towards becoming modern societies, characterized by industrialization, urbanization, and increased living standards.
Dependency Theory
A sociological theory proposing that resources flow from a "periphery" of poor and underdeveloped states to a "core" of wealthy states, enriching the latter at the expense of the former.
Transnational Corporations
Business entities that operate in multiple countries, extending their operations beyond their country of origin through global networks of production and distribution.
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