For the purpose of defining economic income, capital gains count as income only when they are realized.
Answer the following statement true (T) or false (F)
False
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A change in financial technology that reduces the need to hold cash balances ________ the demand for money and ________ the equilibrium nominal interest rate
A) increases; raises B) decreases; lowers C) increases; lowers D) decreases; raises E) decreases; does not change
First degree price discrimination is efficient and therefore preferred by everyone to no price discrimination on the part of a monopolist.
Answer the following statement true (T) or false (F)
In deriving the demand schedule for a good, economists assume that
A) consumers have equal incomes to allocate among goods. B) a consumer will allocate all of her income to one good. C) all other influences on demand except the product price are held constant. D) reported income changes at each point on the demand schedule.
Two goods are perfect complements if the marginal rate of substitution between them is constant
a. True b. False Indicate whether the statement is true or false