In 2012, Governor Nikki R. Haley of South Carolina was cleared of charges that she violated ethics rules when she ________
A) campaigned on behalf of presidential candidates in the 2008 election
B) lobbied on behalf of two businesses she worked for when she was a state representative
C) perjured herself during lobbying activities
D) conspired to bribe public officials
B
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Which of the following statements is CORRECT, assuming positive interest rates and holding other things constant?
A. Banks A and B offer the same nominal annual rate of interest, but A pays interest quarterly and B pays semiannually. Deposits in Bank B will provide the higher future value if you leave your funds on deposit. B. The present value of a 5-year, $250 annuity due will be lower than the PV of a similar ordinary annuity. C. A 30-year, $150,000 amortized mortgage will have larger monthly payments than an otherwise similar 20-year mortgage. D. A bank loan's nominal interest rate will always be equal to or less than its effective annual rate. E. If an investment pays 10% interest, compounded annually, its effective annual rate will be less than 10%.
Adonis Corporation issued 10-year, 11% bonds with a par value of $300,000. Interest is paid semiannually. The market rate on the issue date was 10%. Adonis received $318,696 in cash proceeds. Which of the following statements is true?
A. Adonis must pay $318,696 at maturity and no interest payments. B. Adonis must pay $300,000 at maturity and no interest payments. C. Adonis must pay $318,696 at maturity plus 20 interest payments of $16,500 each. D. Adonis must pay $300,000 at maturity plus 20 interest payments of $15,000 each. E. Adonis must pay $300,000 at maturity plus 20 interest payments of $16,500 each.
The yield curve depicts the relationship between a bond's yield to maturity and its
A) duration. B) term to call. C) term to maturity. D) volatility.
In Board of Trustees of the University of Alabama v. Garrett, the U.S. Supreme Court, in a 5-4 decision, ruled that the Eleventh Amendment to the U.S. Constitution gave the states immunity from individual suits for damages under the:? A) ?Occupational Safety and Health Act
B) ?National Labor Relation Act. C) ?U.S. Constitution. D) ?Americans with Disabilities Act.