The Authors Identify Four Distinct Periods of Capital Mobility Since

question 69

Multiple Choice

The authors identify four distinct periods of capital mobility since 1860. Which do they term as a "period of global economic destruction"?

• A) 1860 - 1914
• B) 1914 - 1945
• C) 1945 - 1971
• D) 1971 - 2007

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Definitions:

FMV

Fair Market Value, the estimated price at which an asset would change hands between a willing buyer and seller, both having reasonable knowledge and not under compulsion.

Basis

The initial value or purchase price of an asset for tax purposes, used to calculate the gain or loss on the sale of that asset.

Section 1231 Asset

Property used in a business and held for more than a year, qualifying for special tax treatment upon its sale or exchange.

Ordinary Income

Income earned from providing services or the sale of goods, including wages, salaries, tips, and interest, which is taxed at the standard rates.