The distinction between a "secured" lender and an "unsecured" lender is that in the event of the bankruptcy of the borrower
A) the unsecured lender has first claim on collateral.
B) the secured lender has first claim on collateral.
C) the secured lender has a first claim on all of the assets of the bankrupt borrower.
D) the unsecured lender has a first claim on all of the assets of the bankrupt borrower.
B
You might also like to view...
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
Actuarily fair insurance reduces risk without changing the expected value of a gamble.
Answer the following statement true (T) or false (F)
The price of a piece of pizza is $1 and the price of a movie is $4 and the consumer has $10. A consumer has purchased 2 pieces of pizza and 2 movies, receiving 25 units of utility for the second pizza and 100 units of utility for the second movie. The
set of goods A) is an optimum since the entire income is spent and the marginal utility per dollar spent is the same for the last unit of each good. B) is an optimum since the entire income is spent and total utility is minimized. C) is not an optimum because the marginal utility per dollar spent is greater for pizza than for movies. D) is not an optimum because the consumer has not spent all of his money.
If GDP is currently $13 trillion and is growing at a rate of 2.3% per year, how long will it take GDP to reach $26 trillion?
A) about 15 years B) about 17 years C) about 25 years D) about 30 years