Margo has $2,200 withheld from her wages for state income taxes during 2018. In March of 2018, she paid $400 in additional taxes for her 2017 state tax return. Her state income tax liability for 2018 is $2,700 and she pays the additional $500 when she files her 2018 state tax return in April of 2019. What amount should Margo deduct as an itemized deduction for state income taxes on her 2018 federal income tax return, assuming she deducts state and local income taxes?

Select the correct answer. after the 2008 recession, the amount of reserves in the us banking system increased. because of federal reserve actions, required reserves increased from $44 billion to $60 billion. however, banks started holding more reserves than required. by january 2009, banks were holding $900 billion in excess reserves. the federal reserve started paying interest on the excess reserves that the banks held. what possible impact will these unused reserves have on the economy? a. the interest rate on loans will fall. b. people will demand more foreign goods. c. people will start borrowing more money. d. the economy will face inflation. e. foreign investments will increase.