Which of the following is NOT a characteristic of a dealer market?
A) Dealers make a profit on the spread between what they pay for financial assets and what they sell them for.
B) Securities are auctioned off to the highest bidder.
C) Dealers buy and sell from their own portfolio.
D) All of the above are characteristics of the dealer market.
Answer: B
You might also like to view...
The Analytical School of jurisprudence maintains that the law is ________
A) shaped by logic B) based on social behavior C) set by the ruling class D) based on morality
A money market deposit account limits both deposits and withdrawals during a month
Indicate whether the statement is true or false.
General Motors is a multinational company. In most countries in which it operates, General Motors opens facilities that give it total control over manufacturing and other processes. However, in China General Motors must partner with domestic companies due to legal and regulatory constraints. In these cases, GM owns part of the company, while the domestic firm owns the other part. In most countries, GM engages in ____________, but in China it engages in _______________.
A. direct ownership; strategic alliances B. strategic alliances; joint ventures C. exporting; joint ventures D. direct ownership; joint ventures E. exporting; strategic alliances
Lew believes an old comic book he owns has little value, but Murray is convinced it is a valuable collector's item. Lew sells it to Murray for $10 before learning it is worth $1,000. Lew can
A. not rescind the contract. B. rescind the contract on the basis of fraud. C. rescind the contract on the basis of mistake. D. rescind the contract on the basis of puffery.