James used $200,00 . from his savings account that paid an annual interest of 10% to purchase a hardware store. After one year, James sold the business for 300,000 . His accountant calculated his profit to be:
a. $300,000
b. $100,000
c. $80,000
d. $20,000
b
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Which of the following did NOT significantly exacerbate the banking crisis of the early 1930s?
A) the Fed's decision not to make loans to insolvent banks B) the large number of small, poorly diversified banks C) the large number of rural banks that held agricultural loans during a time of falling commodity prices D) the large amount of fraud carried out by bank managers
The efficient market hypothesis states that:
A. markets currently contain all available information and correctly value instruments. B. when buyers and sellers act in their own best interest markets will be efficient. C. in order for markets to be efficient they need to be adequately regulated. D. markets currently contain an efficient amount of information for them to clear.
The Sherman Act made cooperative agreements
a. unenforceable outside of established judicial review processes. b. enforceable with proper judicial review. c. a criminal conspiracy. d. a crime, but did not give direction on possible penalties.
The income tax acts as a wedge driven between the value a worker creates and her highest possible
A. inheritance. B. mortgage loan. C. capital gain. D. take-home pay.