In 2014,Carlos Filed His 2013 State Income Tax Return and Paid

question 46

Multiple Choice

In 2014,Carlos filed his 2013 state income tax return and paid taxes of $800.Also in 2014,Carlos's employer withheld state income tax of $750 from Carlos's salary.In 2015,Carlos filed his 2014 state income tax return and paid an additional $600 of state income tax due for 2014.How much state income tax can Carlos deduct on his 2014 federal income tax return for state income tax?

• A)$1,350
• B)$1,400
• C)$1,550
• D)$2,150

---

Definitions:

Marginal Revenue

The additional income received from selling one more unit of a good or service.

Optimal Employment

The level of employment where the economy is at its most efficient, producing the maximum output without causing inflationary pressures.

Marginal Revenue

The additional income generated from selling one more unit of a good or service.

Marginal Product

The additional output resulting from the use of one more unit of a variable input, holding other inputs constant.