Polly inherits land that had a basis to the decedent of $95,000 and a fair market value of $50,000 on August 4, 2020, the date of the decedent's death. The executor distributes the land to Polly on November 12, 2020, at which time the fair market value is $49,000. The fair market value on February 4, 2021, is $45,000. In filing the estate tax return, the executor elects the alternate valuation date. Polly sells the land on June 10, 2021, for $48,000. What is her recognized gain or loss

Agood for which demand increases as income rises is and a good for which demand increases as income falls is

Used cars usually have options: higher depreciation rate than new cars lower financing costs than new cars lower insurance premiums than new cars lower maintenance costs than new cars

Assume that the following conditions exist: a. all banks are fully loaned up- there are no excess reserves, and desired excess reserves are always zero. b. the money multiplier is 5 .     c. the planned investment schedule is such that at a 4 percent rate of interest, investment =$1450 billion. at 5 percent, investment is $1420 billion. d. the investment multiplier is 3 . e.. the initial equilibrium level of real gdp is $12 trillion. f. the equilibrium rate of interest is 4 percent now the fed engages in contractionary monetary policy. it sells $1 billion worth of bonds, which reduces the money supply, which in turn raises the market rate of interest by 1 percentage point. calculate the decrease in money supply after fed's sale of bonds: $nothing billion.