Leonardo Earns $80,000 of Taxable Income

question 26

Multiple Choice

Leonardo earns $80,000 of taxable income.He also has $15,000 in city of Tulsa bonds.His wife,Theresa,earns $50,000 of taxable income.How much money would Leonardo and Theresa save if they filed jointly instead of separately for year 2013?

• A)Nothing
• B)$204.00
• C)$309.75
• D)$5,892.00
• E)None of these

---

Definitions:

Nuclear Missiles

Weapons of mass destruction powered by nuclear energy, capable of causing significant destruction and loss of life over a wide area.

CPI

Consumer Price Index, an indicator that measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

GDP Deflator

A measure of the price level of all domestically produced goods and services in a country and is used to convert output measured at current prices into constant-dollar GDP.

Economists

Experts focused on exploring how goods and services are created, shared, and used, while examining trends and problems in the economy.