A $100 million loan with a haircut of four percent requires collateral valued at ________
A) $104 million
B) $96 million
C) $4 million
D) $400,000
A
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According to the Application, the argument that the broken window is good for society
A) works in the Keynesian world when the economy is operating below full employment. B) never works in the Keynesian or classical worlds regardless of where the economy is operating relative to full employment. C) works in the classical world when the economy is operating at full employment. D) works in both the Keynesian and classical worlds regardless of where the economy is operating relative to full employment.
Double-entry bookkeeping is a system of accounting in which:
a. it is ideal for credits to be greater than debits. b. it is ideal for debits to be greater than credits. c. each transaction is recorded in the same account twice. d. only foreign and domestic accounts are used. e. the debit total must equal the credit total for the transactions as a whole.
Roughly what percentage of Americans were officially considered poor in 2012?
a. 2 percent b. 9 percent c. 15 percent d. 22 percent
A subsidy on a product will generate more actual benefit for producers (and less for consumers) when
a. the supply of the product is relatively inelastic. b. the supply of the product is relatively elastic. c. the demand for the product is relatively inelastic. d. either b or c is true