Vic is an attorney. Vic owed his uncle $25,000. The uncle told Vic that if he serves as the executor of the uncle's estate, Vic's debt will be canceled in the uncle's will. The $25,000 debt cancellation is Vic's gross income when the uncle dies. b. Vic borrowed $80,000 from First Bank. The debt was secured by land that Vic purchased for $100,000. Vic was unable to pay, and the bank foreclosed when the liability was $80,000, which was also the fair market value of the property. Vic has a $fill in the blank eef124ff7fec05e_1 as a result of the foreclosure. c. The Land Company, which had sold land to Vic for $80,000, reduced the mortgage on the land by $12,000. The $12,000 reduction in the debt is Vic's gross income and Vic must his basis in the property.

Which is not an example of a cyclical company? a) airlines b) hotel industry c) medical d) theme parks

The price of trade suppose that portugal and sweden both produce rye and wine. portugal's opportunity cost of producing a bottle of wine is 4 bushels of rye while sweden's opportunity cost of producing a bottle of wine is 10 bushels of rye. by comparing the opportunity cost of producing wine in the two countries, you can tell thatportugal/sweden has a comparative advantage in the production of wine.andportugal/sweden has a comparative advantage in the production of rye. suppose that portugal and sweden consider trading wine and rye with each other. portugal can gain from specialization and trade as long as it receives more rye for each bottle of wine it exports to sweden. similarly, sweden can gain from trade as long as it receives more bottles of wine for each bushel of rye it exports to portugal. based on your answer to the last question, which of the following prices of trade (that is, price of wine in terms of rye) would allow both sweden and portugal to gain from trade? a. 1 bushels of rye per bottle of wineb. 8 bushels of rye per bottle of winec. 9 bushels of rye per bottle of wined. 3 bushels of rye per bottle of wine

Your grandmother told you a dollar doesn't go as far as it used to. she says the purchasing power of a dollar is much lesser than it used to be. explain what she means. try and use and explain terms like inflation and deflation in your answer.