If a bank has $100 million in assets and a net worth of $10 million, its debt-to-equity ratio is:
A. 10 to 1.
B. 0.1 to 1.
C. 9 to 1.
D. 5 to 1.
Answer: C
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Jack swapped his basketball for Jim's glove. Even if national income accountants were aware of this trade, they wouldn't include it in their GDP measure because
A) it was an unproductive exchange. B) the basketball and glove were not final goods. C) this was not a market transaction. D) it failed to increase the wealth of both traders. E) there is no satisfactory way to determine market values for bartered goods, new or used.
Unlike the person or persons who formally form a sole proprietorship or partnership, a corporation has
(a) a perpetual life. (b) unlimited liability for the debts accumulated by the firm. (c) the right to vote. (d) concentrated ownership.
The main function of the Federal Reserve System is to:
A. supervise the operation of member banks. B. control the money supply. C. serve as the fiscal agent for the federal government. D. clear checks from member banks.
A sharp increase in the number of medical errors increases the number of lawyers hired to determine medical malpractice settlements. This will
A) increase GDP and increase well-being in the economy. B) increase GDP and decrease well-being in the economy. C) decrease GDP and increase well-being in the economy. D) decrease GDP and decrease well-being in the economy.