Answer:
$92,00
Explanation:
Base on the scenario been described in the question which we saw how Carly donated an to the church, when she purchased the gift, it was $100,000 but when she is to present the gift to the church, the fair market value became $92,000 which is her maximum charitable contribution deduction
the charitable deduction for ordinary income property is the lesser of fmv or basis limited to 50% of AGI
~ The tendency to seek out information that reaffirms past choices and to discount information that contradicts past judgments is known as •Confirmation Bias•.
Answer:
True
Explanation:
The effects of both changes on price is as follows:
1. The Greater Effect - change in demand due to the falling price of natural gas (a substitute for oil)
As price of natural gas, a substitute for oil, falls, demand for oil will fall pushing oil producers to respond by cutting crude oil prices in a bid to sustain demand and prevent its fall. <em>Thus, the effect is a price fall</em>.
2. The Lesser Effect - change in supply due to disruptions in oil-well operations in the Middle East
Due to supply disruptions which will result is a reduction in supply, the price of oil will tend to increase as consumers buy more of a commodity in less supply. <em>Thus, the effect on price is a rise</em>.
There, since the greater effect is a price fall, and the lesser effect is a price rise, equilibrium price is expected to fall.
Answer: B. Foreign cars become more expensive.
Explanation: The tariff slapped on imported goods such as cars and other foreign commodities will raise the overall cost of the product on the side of the seller and definitely the final selling price of such product to the consumers. This is used to raise revenue for the government and also to encourage the manufacture, adoption and support for locally manufactured products. Locally manufactured substitute will tend to be cheaper and the additional tariff may put importers and consumers off, and hence settle for cheaper locally made alternative.
