Feng,a Single 40-Year-Old Lawyer,is Covered by a Qualified Retirement Plan

question 44

Multiple Choice

Feng,a single 40-year-old lawyer,is covered by a qualified retirement plan at work.His salary is $115,000,and his total AGI is $127,000.The maximum contribution he can make to a Roth IRA in 2017 is

• A)0)
• B)$3,300.
• C)$2,200.
• D)$5,500.

---

Definitions:

Short-Run Aggregate Supply Curve

A graphical representation showing how the total production of goods and services in an economy varies with changes in the price level in the short term.

Actual Price Level

The current index of prices for goods and services in an economy, reflecting the purchasing power of money at a specific point in time.

Long Run

A period in economics in which all factors of production and costs are variable, allowing full adjustment to changes.

Real Wages

Wages adjusted for inflation, representing the purchasing power of income earned through work.