In the current yearmr. d sold a parcel of land (acquired and held for investment), which had an adjusted basis to him of $25,000 for $37,500 cash and artwork with a fair market value of $12,500. the buyer also assumed $10,000 mortgage on the land. d paid $2,500 in selling expenses. what is the amount of mr. d's gain on the sale?

The former chairman of the federal reserve, alan greenspan, used the term "irrational exuberance" in 1996 to describe the high levels of optimism among stock market investors at the time. stock market indexes such as the s& p composite price index were at an all-time high. some commentators believed that the fed should intervene to slow the expansion of the economy. why would central banks want to clamp down when the economy is growing? a. to block the formation of unsustainable speculative asset bubbles. b. to curtail excessive profits in the banking system. c. to prevent inflationary forces from gathering momentum. d. all of the above. e. a and c only.