Farr, an unmarried taxpayer, had $70,000 of adjusted gross income and the following deductions for regular income tax purposes:
home mortgage interest on a loan to acquire a principal residence $ 11,000
miscellaneous itemized deductions above the threshold limitation 2,000
what are farr's total allowable itemized deductions for computing alternative minimum taxable income?
a. $13,000
b. $2,000
c. $11,000
d. $0

Alaska king crab fishing in the 1960s and '70s was a dangerous but rich fishery. boats from as far away as california and japan braved the treacherous gulf of alaska crossing to reach the abundant king crab beds in cook inlet and bristol bay. suddenly, in the early 1980s, the fishery crashed due to over fishing. all crabbing in those areas ended. to this day, there is no crabbing in bristol bay or cook inlet. a. how would an economist explain the decline of the alaska king crab fishery