Based on the information given she is potentially eligible for a retirement savings contributions credit (Saver's Credit) of up to: $200.
The minimum threshold for single filing status is $31,500 threshold but based on the information given we were told that Erin modified adjusted gross income (MAGI) is $31,000 which is lower than $31,500.
Based on this Erin credit rate is 10% of the amount she contributed to the traditional IRA, which mean that she is eligible for a Saver's Credit of up to $200 calculated as:
Saver's Credit=$2,000×10%
Saver's Credit =$200
Inconclusion she is potentially eligible for a retirement savings contributions credit (Saver's Credit) of up to: $200.
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"Whenever banks gain reserves and make new loans, the money supply <u>expands</u>; and whenever banks lose reserves and reduce their loans, the money supply <u>contracts</u>."
<h3>When does the money supply contract and expand?</h3>
By decreasing the reserve requirements for banks, which enables them to lend more money, the Fed can expand the money supply. The Fed can reduce the amount of money in circulation by increasing the reserve requirements for banks, on the other hand.
The total amount of reserves held by a bank rises with each dollar deposited into an account.
The bank will lend out the extra reserves while keeping some of the necessary reserves on hand. The money supply is increased when such a loan is made.
Banks "generate" money in this way to expand the available supply. A central bank's alteration of the money supply affects interest rates, which have an effect on aggregate demand and investment.
Therefore, expands is the answer for the first blank, and contracts are the answer for the second blank.
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$SPJ4
<span>The general journal is used to track categories of transactions and includes all company transaction. All </span><span>journal entries are recorded in the general journal.</span>
The five main columns of a journal are: date, account titles, posting reference, debit, and credit columns.
This is an example of supply and demand. The school is looking for two teachers to fill the open spots at their school; there is a demand of two new teachers. However, with the demand for two teachers comes a supply of 20 teachers that are able to take the spot. Supply and demand refers to the amount of something that is available and the desired need for it.
Answer:
For each can of soda he gets one in return.
Explanation:
If he gets one soda for another the logical answer is that for each trade he gets a soda but it also could mean that those are his two favorite.