You bought some shares of stock and, over the next year, the price per share increased by 5 percent, as did the price level. Before taxes, you experienced
a. both a nominal gain and a real gain, and you paid taxes on the nominal gain.
b. both a nominal gain and a real gain, and you paid taxes only on the real gain.
c. a nominal gain, but no real gain, and you paid taxes on the nominal gain.
d. a nominal gain, but no real gain, and you paid no taxes on the transaction.
c
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A changes in which of the following shifts the demand curve for hamburgers?
A) an increase in the price of the meat used to produce hamburgers B) an increase in the price of a hamburger C) a fall in the price of french fries, a complement for hamburgers D) an increase in the number of hamburger restaurants
Collusion occurs when
a. a firm chooses a level of output to maximize its own profit b. firms get together to maximize joint profits c. firms refuse to follow their price leaders d. firms petition their U.S. senators for favors e. two firms' price and output decisions come into conflict
When the nominal exchange changes from 110 yen per dollar to 120 yen per dollar, the dollar has:
A. depreciated. B. become overvalued. C. become undervalued. D. appreciated.
A fractional reserve banking system is one in which banks hold less than 100 percent of ______ in reserves
Fill in the blank(s) with the appropriate word(s).