Loophole mining refers to financial innovation designed to
A) hide transactions from the IRS.
B) conceal transactions from the SEC.
C) get around regulations.
D) conceal transactions from the Treasury Department.
C
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The minimum wage is an example of a price ceiling
Indicate whether the statement is true or false
When large firms in oligopoly markets cut their prices
A) we don't know for sure how rival firms will respond. B) rival firms will also cut their prices to avoid losing sales. C) rival firms will not change their prices because most of their customers have signed contracts that commit them to doing business with the same firms for the life of their contracts. D) rival firms will not cut their prices because they fear that the federal government will accuse them of collusion.
A firm could differentiate its product by all of the following means except one. Which is the exception?
a. making the product available at a number of different locations b. increasing the number of services that accompany the product c. making the product physically different from other products d. using packaging or advertising to create a special subjective image of the product in the consumer's mind e. emphasizing that the product provides the same benefits to consumers as the others on the market, even when it is really physically different
Which of the following is the most liquid asset?
a. A classic art painting. b. A commercial building. c. A savings bond d. A checking account balance e. Gold