Answer:
1.5
Elastic
Explanation:
Income elasticity of demand measures the responsiveness of quantity demanded to changes in income.
Income elasticity of demand = percentage change in quantity demanded / percentage change in income.
6 / 4 = 1.5
The income elasticity of demand is elastic
I hope my answer helps you
Gloria has read 102 pages of the novel.
One way to make the most of your money is to put any you have left over into your super
For many people, this is a tax effective way to save for the long term.
Answer:
$65,000
Explanation:
Corporate liquidations of property generally are treated as a sale or exchange. Gain or loss generally is recognized by the corporation on a liquidating sale of its assets. Gain or loss generally is recognized also on a liquidating distribution of assets as if the corporation sold the assets to the distributee at fair market value.
In certain cases in which the distributee is a corporation in control of the distributing corporation, the distribution may not be taxable. For more information, see IRC Section 332 and the related regulations.
As a result, Alvo has a basis in the received property of $65,000 because the land was not sold and Alvo did not receive $200,000. Alvo no longer owns stock in Borasco, but has the land.
