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Question - After years of working with the orphanage and the government, Walt and Kim adopted a little girl from China. The adoption process, which became final in January 2016, incurred the following qualified adoption expenses. What amount of adoption credit can Walt and Kim claim and in what year? Assume there is no credit limitation due to their AGI amount.
2015 $12,500
2016 $2,800
A) $13,460 in 2016.
B) $12,500 in 2015 and $2,800 in 2016.
C) $15,300 in 2015.
D) $15,300 in 2016.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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