If a Used $15,000 Automobile Used 100% for Business in the First

question 9

True/False

If a used $15,000 automobile used 100% for business in the first year (2012) fails the 50% business usage test in the second year, no cost recovery will be recaptured.

---

Definitions:

Aggregate Demand

The entire need for goods and services within an economy's market, assessed at a certain price level throughout a specific time span.

Wealth Effect

The change in spending that accompanies a change in perceived wealth, usually through market price changes of assets like homes or investments.

Aggregate Demand

The complete summon for goods and services in an economy, quantified at a particular level of overall price throughout a definite period.

Aggregate Supply

The total supply of goods and services that firms in an economy plan on selling during a specific time period, which can be influenced by factors like production technology and labor availability.