Same facts as previous question. Ian and Isabella paid the following expenses in 2020: Federal income taxes withheld on wages: $9,000 State & local income taxes: $8,000 Property taxes on principal residence: $5,000 Sales tax: $1,000 Interest on credit card used for personal travel: $4,500 Interest on $350,000 mortgage used to purchase principal residence: $2,000 Interest on $20,000 home-equity loan used to improve their principal residence: $1,000 Deductible student loan interest: $2,000 Deductible medical expenses (this is the amount after the % of AGI floor has been applied): $1,000 Unreimbursed employee business expenses (job supplies): $750 Ian and Isabella's home is worth $550,000. They have proper records to substantiate all expenses. What is Ian and Isabella's AGI?

Profits from using currency options and futures.on july 2, the two-month futures rate of the mexican peso contained a 2 percent discount (unannualized). there was a call option on pesos with an exercise price that was equal to the spot rate. there was also a put option on pesos with an exercise price equal to the spot rate. the premium on each of these options was 3 percent of the spot rate at that time. on september 2, the option expired. go to the oanda.com website (or any site that has foreign exchange rate quotations) and determine the direct quote of the mexican peso. you exercised the option on this date if it was feasible to do so. a. what was your net profit per unit if you had purchased the call option? b. what was your net profit per unit if you had purchased the put option? c. what was your net profit per unit if you had purchased a futures contract on july 2 that had a settlement date of september 2? d. what was your net profit per unit if you sold a futures contract on july 2 that had a settlement date of september 2

Juanita and sam attend a beach party and notice that the local beach appears to have a great deal more trash washed up on shore than it did when they were young. the water doesn't appear nearly as clear, and there seems to be less evidence of small water creatures living in the shallows. an afternoon at the local library convinces them that one major cause is the new factory nearby. after some discussion, they decide their next step should be identifying the cause of the changes identifying the problem picketing the guilty factory lobbying their elected representatives to complain about the problem talking to a local environmental group about solutions

Which of the following results in an increase in the standard of living? a. an increase in unemployment pushes down the cost of production. b. wages go up to correct for the inflation of prices. c. income increases, enabling consumers to buy more goods and services. d. rising production costs drive up the price of goods and services.