You are an economic consultant and have been contacted by an…

You are an economic consultant and have been contacted by an official from a developing country. She tells you that her country’s economy is currently growing at 2 percent per year. She asks you how long it will take for her country’s economy to double in size; you tell her it will take 35 years. She then asks you what the government can do to shorten the time necessary to double the size of the country’s economy. What should you tell her?

Bob and Ted are married and live in California, a community …

Bob and Ted are married and live in California, a community property state. Their community property consists of real property with an adjusted basis of $300,000 and a fair market value of $750,000 and other property with an adjusted basis of $100,000 and a fair market value of $75,000. Bob dies and leaves his entire estate to Ted. What is Ted’s adjusted basis in the real property and other property after Bob’s death?    Real Property  Other Property  a.$150,000  $37,500  b.$300,000  $50,000  c.$375,000  $100,000  d.$750,000  $75,000 

Nine months ago, Bonnie gave  land to  Ron.  At  the  date o…

Nine months ago, Bonnie gave  land to  Ron.  At  the  date of  gift, the  land had a fair market  value   of  $400,000 and an adjusted taxable basis to Bonnie of $250,000. Ron died bequeathing all of his property to Bonnie. If the land had a fair market value of $450,000 on the date of Ron’s death, what is Bonnie’s adjusted taxable basis in the land?