During 2018,Christiana's Employer Withheld $1,500 from Her Wages for State

question 38

Multiple Choice

During 2018,Christiana's employer withheld $1,500 from her wages for state income taxes.She claimed the $1,500 as an itemized deduction on her 2018 federal income tax return which included $14,000 of itemized deductions (the 2018 standard deduction was $12,000) .Christiana is single.On her 2018 state income tax return,her state income tax was $900.As a result,Christiana received a $600 refund in 2019.What amount must Christiana include in income in 2019?

• A)$0
• B)$600
• C)$900
• D)$1,500

Identify the effects of specialization and trade on a country's production and consumption.

Analyze the impact of world price changes on imports and exports.

Distinguish between absolute and comparative advantage in international trade.

Recognize the fallacies associated with low-wage labor and its implications for trade.

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Definitions:

Operating Cycle

The duration of time from the purchase of raw materials to the collection of receivables resulting from sales.