The Second Circuit and Eleventh Circuit Courts of Appeal affirmed dismissal of securities fraud claims because the plaintiffs did not adequately plead scienter under the standard imposed by the Private Securities Litigation Reform Act of 1995. Scienter is defined as which of the following?
(a) The standard of reasonableness required of a prudent person in the management of his affairs
(b) An untrue statement of a material fact
(c) The intent to deceive, manipulate, or defraud
(d) The failure to maintain due diligence during the issuance of new securities known as an IPO
Ans: (d) The failure to maintain due diligence during the issuance of new securities known as an IPO
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If a quota is imposed on imports of shrimp into the United States, U.S. consumers ________ and U.S. producers ________
A) gain; gain B) lose; gain C) gain; are unaffected D) lose; lose E) gain; lose
The payment made by a bank to a depositor to use her money for lending to those in need of funds is referred to as the ________
A) dividend B) interest C) principal D) stock
In economics, the entrepreneur is the person who
a. acts as the go-between among different manufacturers. b. puts together land, labor, and capital and tries to make a profit. c. is a shrewd business executive who works as a consultant to other businesses to show them more profitable methods of operation. d. is a visiting diplomat from France.
During the fiscal expansion associated with the Vietnam war, what type of expenditures was initially "crowded out?"
A) autonomous consumption B) nonresidential fixed investment C) residential construction D) nonresidential construction