Chapter 2, Problem 2.4E

Sandeep has $15,800 of net long-term capital gain and $9,200 of net short-term capital loss. This nets out to a: (a) $6,600 net long-term loss (b) $6,600 net long-term gain (c) $6,600 net short-term gain (d) $6,600 short-term loss

What is the net operating income ?

Last year, Wax Republic collected total tax revenues of $2.4 billion and spent $3.1 billion on various public services. The country currently owes $8.2 billion to investors who hold its bonds and other debt obligations. What was the country's deficit for the year? a) $0.7 billion b) $8.2 billion c) $5.1 billion d) $10.6 billion e) None of the above