Answer:
c. potatoes
Explanation:
The computation is shown below:
Opportunity cost of producing 1 tons of wheat is
for US = 4 ÷ 3 = 1.33 tons of potatoes
for Ireland = 2 ÷ 1 = 2 tons of potatoes
As the opportunity cost is higher in united states of potatoes so here the united stated should be comparative advantage in generating potatoes
Answer:
A business may be constrained by a variety of licensure and other regulatory requirements, based on the industry and activities the business wants to pursue. For example, a lawyer must obtain a legal license in a particular state before he can open a practice in that state.
Answer:
The answers are:
- Jerry must recognize $0 of gain on the transfer of the rental house
- Sally's tax basis is $80,000
Explanation:
Capital gains taxes are usually excluded when you sell a house or transfer the house in a divorce settlement. The exclusion is up to $250,000 of capital gains.
Since Sally didn't buy the house, but received it as part of their divorce settlement from Jerry, the same cost basis will apply to Sally.
The closing agent is responsible for ordering, preparing, and reviewing closing-related documents.
<h3>Who is a Closing agent?</h3>
This is a professional who deals in real estate transactions and acts a middle man between the buyer and the seller.
He ensures the transfer of the legal title is appropriately done by preparing and reviewing closing-related documents, such as the title policy and settlement statement.
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