Capital gains tax liabilities usually
A. must be recognized and paid by the estate of the decedent upon death.
B. are recognized only upon the sale of a capital asset.
C. are recognized before the sale of a capital asset as the gain actually accrues.
D. do not include any taxation of actual inflation.
Answer: B
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A ________ is the price at which a trading partner is indifferent between making the trade and not doing so
A) market value B) reservation value C) shadow value D) discounted value
Which of the following is FALSE about services trade for India and China?
A) China exports more services than India does. B) India has a trade surplus in services. C) China has a trade surplus in services. D) India trades primarily information services and other business services.
If the average propensity to consume is 1.0, the marginal propensity to consume is 0.8, and real disposable income increases by $100, the additional saving is
A) $0. B) $20. C) $80. D) $100.
The process of bringing together buyers and sellers in a market is called:
A. equilibrium. B. intermediation. C. the invisible hand. D. supply and demand.