On February 15, 2019, John, who is single and age 30, establishes a traditional IRA and contributes $ 5,500 to the account. John's adjusted gross income is $ 70, 000 in 2018 and $ 60,500 in 2019. John is an active participant in an employer-sponsored retirement plan.

a. What amount of the contribution is deductible? In what year is it deductible?
b. How is the deduction (if any) reported (i. e., for AGI or from AGI)?
c. How would your answer to Part a change, if at all, if Jamal were not an active participant in an employer-sponsored retirement plan?
d. How would your answer to Part a change if Jamal were married and files a joint return with his spouse, who has no earned income? (Assume their combined AGI is $85,000.)

The new york times (nov. 30, 1993) reported that “the inability of opec to agree last week to cut production has sent the oil market into turmoil . . [leading to] the lowest price for domestic crude oil since june 1990.” why were the members of opec trying to agree to cut production? so they could save more oil for future consumption so they could lower the price so they could raise the price why do you suppose opec was unable to agree on cutting production? because each country has a different production capacity because each country experiences different production costs because each country has an incentive to cheat on any agreement the newspaper also noted opec’s view “that producing nations outside the organization, like norway and britain, should do their share and cut production.” what does the phrase “do their share” suggest about opec’s desired relationship with norway and britain? opec would like norway and britain to keep their production levels high. opec would like norway and britain to act competitively. opec would like norway and britain to join the cartel.