Which of the following statements is true of capital gains in the U.S.?
A. Capital gains are taxed only if they are long-term.
B. Capital gains are taxed only for low-income groups.
C. Capital gains are taxed on accrual.
D. Capital gains are forgiven at death.
Answer: D
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If consumers switch away from eating margarine at the same time that the number of margarine suppliers increases, then:
a. these two effects cancel each other out and there is no change in the margarine market equilibrium. b. the demand curve shifts left and the supply curve shifts right. c. there is a margarine price increase. d. there is an excess demand for margarine. e. the equilibrium quantity of margarine must increase.
An increase in both supply and demand causes which of the following?
a. Equilibrium price falls. b. Equilibrium price rises. c. Equilibrium price change is indeterminate. d. Equilibrium quantity decreases. e. Equilibrium quantity change is indeterminate.