In February of the current year, Cammy contributed an office building to the CJ Partnership for a partnership interest. The office building had an adjusted basis of $45,000 and a FMV of
$60,000. Cammy acquired the office building 10 years ago for $100,000.

What gain or loss should Cammy report on the contribution to the partnership?

a. No gain or loss.

b. $15,000 ordinary income.

c. $15,000 ordinary income and $40,000 capital gain.

d. $55,000 capital gain.

Consider the labor market for heath care workers. because of the aging population in the united states, the output price for health care services has increased. holding all else equal, what effect does this have on the labor market for health care employees? a. the equilibrium wage increases and the equilibrium quantity of labor increases.b. the equilibrium wage increases and the equilibrium quantity of labor decreases.c. the equilibrium wage decreases and the equilibrium quantity of labor increases.d. the equilibrium wage decreases and the equilibrium quantity of labor decreases.