An ADR is a negotiable certificate issued by a U.S. bank in the United States to represent the underlying shares of a foreign corporation's stock held at a custodian bank in the foreign country.
a. true
b. false
a. true
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A benevolent social planner would prefer that the output of good x be increased from its current level if, at the current level of output of good x,
a. social value = private value = private cost < social cost. b. social cost > private value = social value > private cost. c. social cost = private cost = private value < social value. d. social value = private cost = social cost > private value.
Long-term interest rates may not closely follow short-term interest rates if
A. The required reserve ratio decreases. B. Lenders are reluctant to make loans. C. The Fed intervenes in the bond market. D. People prefer to hold transactions accounts over cash.
The motivation behind mutual fund regulation is protection of individual investors through
A) risk-based capital requirements. B) full financial disclosure. C) insurance of investors accounts. D) performance of periodic audits by the SEC.
A firm that engages in efficient production
A) cannot produce the same output with fewer inputs. B) could produce the same output with fewer inputs if it wanted to. C) is not interested in profit maximization. D) uses old technology to minimize costs.