One year ago Sam purchased bonds for $100,000 . He just sold them for $120,000 . During the year the price level rose by 5%. If the tax rate on capital gains is 20%, how much did Sam gain in real terms?

In a "game," strategies are

A) the reactions of firms to the changes in the economy. B) the laws regulating the industry. C) the plans made by the participants. D) the potential returns the participants may get.

Which of the following is not true about the composition of GDP in 2016?

A) The majority of consumer spending is on durable goods. B) Purchases made by state and local governments are greater than purchases made by the federal government. C) Imports are greater than exports. D) Business fixed investment is the largest component of investment.