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dwilliams11 dwilliams11
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5 years ago

Question 1.

You own an oil painting that increases in value by $12,000 but you do not sell the painting. The $12,000 is counted as ________ income.



▸ part of economic income but not part of taxable

▸ both economic and taxable

▸ taxable income but not economic

▸ neither taxable nor economic

Question 2.

You own a condominium in Orlando, Florida. During the recent downturn in housing values in the area your condo's value declined by $75,000. Your economic income ________ and your taxable income ________.



▸ was unchanged; fell

▸ fell; was unchanged

▸ fell; fell

▸ was unchanged; was unchanged
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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zachcarytcriszachcarytcris
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5 years ago
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dwilliams11 Author
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5 years ago
Good timing, thanks!
jakechambo3
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Yesterday
Thanks for your help!!
Marcie D
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2 hours ago
Smart ... Thanks!
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