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Web-Based Questions
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1
DIAMONDS—INTERESTED IN BUYING ONE?
Go to the Internet auction site eBay at http://www.ebay.com and select the category Jewelry and Watches and then Loose Diamonds and Gemstones. How many loose diamonds are for sale at the moment? Note the wide array of sizes and prices of the diamonds. In what sense is there competition among the sellers in these markets? How does that competition influence prices? In what sense is there competition among buyers? How does that competition influence prices?
2
BARTER AND THE IRS
Bartering occurs when goods or services are exchanged without the exchange of money. For some, barter's popularity is that it enables them to avoid paying taxes to the government. How might such avoidance occur? Does the Internet Revenue Service (IRS), http://www.irs.ustreas.gov/, treat barter as taxable or nontaxable income? (Type "barter" in the site's search tool.) How is the value of a barter transaction determined? What are some IRS barter examples? What does the IRS require of the members of so-called barter exchanges?





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