If the Value of Your Baseball Card Collection Increases During

question 38

Multiple Choice

If the value of your baseball card collection increases during a year,it would count as income under which of the following definitions of income?

• A)The Fisher definition of income.
• B)The Haig-Simons definition of income.
• C)The Laffer definition of income.
• D)The imputed collectible return definition of income

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Definitions:

Out-Of-The-Money

A term used to describe an option contract that would not result in a profit if exercised at the current market level.

Convertible Bond

A type of bond that can be converted into a predetermined amount of the company's equity, usually at the option of the bondholder.

Callable Bond

is a type of bond that gives the issuer the right to redeem the bond before its maturity date, under specific conditions.