During 2014,Esther Had the Following Transactions A) $\$ 62,000 .$ B) $\text { \$64.000. }$

question 17

Multiple Choice

During 2014,Esther had the following transactions:
$\begin{array}{lr}\text { Salary } & \$ 70,000 \\\text { Interest income on Xerox bonds } & 2,000 \\\text { Inheritance from uncle } & 40,000 \\\text { Contribution to traditional IRA } & 5,500 \\\text { Capital losses } & 2,500\\\text { Esther's } A G I \text { is: }\end{array}$

• A)\(\$ 62,000 .\)
• B)\(\text { \$64.000. }\)
• C)\(\$ 67,000 .\)
• D)\(\$ 102,000\)
• E)\(\text {\$104.000. }\)

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Definitions:

Surplus Value

The difference between the value of the labor power as purchased by the capitalist and the actual value produced by the laborer; the source of profit for capitalists.

Exchange Value

The worth of a good or service determined by the market, based on its capacity to be traded for other goods or services.

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