Examlex
A C corporation was formed five years ago and is a fiscal-year taxpayer with a June 30 year-end. The C corporation wants to make an S election for its tax year beginning in the current year. The election must be made by ________ (assuming permission can be obtained to continue using the fiscal year from the IRS) .
Stagflation
A situation in economic where slow economic growth and high unemployment occur simultaneously with rising prices (inflation).
Aggregate Demand
Total pull for goods and services in an economy, measured at a specific wide price level during a prescribed time scope.
Economic Boom
A period characterized by significant expansion in the economy, marked by increased production and consumption, lower unemployment rates, and robust economic growth.
Government Expenditures
Represents the total spending by the government on goods, services, and public works.
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