If personal income exceeds national income in a particular year, we can conclude that:
A. transfer payments exceeded the sum of Social Security contributions, corporate income
taxes, and taxes on production and imports.
B. the sum of Social Security contributions, corporate income taxes, and undistributed
corporate profits exceeded transfer payments.
C. consumption of fixed capital and taxes on production and imports exceeded personal
taxes.
D. transfer payments exceeded the sum of Social Security contributions, corporate income
taxes, and undistributed corporate profits.
D. transfer payments exceeded the sum of Social Security contributions, corporate income
taxes, and undistributed corporate profits.
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Which organization functions as a lender of last resort for national governments?
A) the International Monetary Fund B) the World Bank C) the Federal Reserve Bank D) the U.S. Treasury
Total reserves are the sum of ________ and ________
A) excess reserves; borrowed reserves B) required reserves; currency in circulation C) vault cash; excess reserves D) excess reserves; required reserves
In the United States the stake of top management in firms' ownership usually is
A) less than 5%. B) more than 25%. C) more than 50%. D) more than 75%.
In the calm before the storm of the early 1990s recession, the economy was fueled by many factors including debt-financed purchases by some firms of all the stock or assets of other firms. These purchases were known as
a. hostile takeovers b. junk bonds c. leveraged buyouts d. stock swaps e. derivatives