Exam 17: Background Topics

A) A corporation.
B) An association.
C) A family limited partnership.
D) An individual proprietorship.
E) None of the above.

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A) An officer of the law.
B) A trusted party who acts as an agent for another person.
C) A lawyer designated by the courts.
D) All of the above.
E) None of the above.

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A) 100 x current price - (price in previous periods x price in previous periods) .
B) 100 x (price in previous periods - current price) /price in previous periods.
C) 100 x (current price - price in previous periods) /price in previous periods.
D) 100 x price in previous periods - (current price/price in previous periods) .
E) None of the above.

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A) Trough.
B) Gutter.
C) Ditch.
D) Depression.
E) Recession.

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A) Stock prices.
B) Consumer expectations.
C) Money supply.
D) Initial unemployment claims.
E) All of the above are factors.

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E

A) Gross Domestic Product.
B) Gross National Product.
C) Net Domestic Product.
D) Net National Product.
E) None of the above.

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A) Redistribute wealth.
B) Change economic behavior and bring about inefficient economic activity.
C) Result in action by the Federal Reserve to stop the inflationary spiral.
D) Increased uncertainty about the future.
E) All of the above are effects of inflation.

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A) Subchapter S corporation.
B) Limited liability partnership.
C) Partnership.
D) All of the above.
E) None of the above.

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A) $74,545.34.
B) $92,455.62.
C) $104,567.32.
D) $88,455.32.
E) None of the above.

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A) $62,092.
B) $38,554.
C) $100,000.
D) $14,864.
E) $98,039.

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A) Open market operations.
B) Changes in the inflation rate.
C) Changes in the reserve ratio.
D) Moral suasion.
E) All of the above are actions that the Federal Reserve can take.

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A) A tort.
B) Negligence.
C) Belligerence.
D) All of the above.
E) None of the above.

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A) Written.
B) Signed by maker.
C) An unconditional promise to pay an exact amount of money.
D) Paid to a specific person or to anyone presenting the contract.
E) All of the above are required.

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E

A) Specialization.
B) Economics of scale.
C) Reduction in income fluctuation.
D) Can pass along greater assets to the next generation.
E) All of the above are characteristics of subchapter S corporations.

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A) Individual proprietorship.
B) Partnership.
C) Family limited partnership.
D) Both a and b.
E) Both b and c.

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A) A period in which inflation is rising but at a rate of increase that is declining.
B) A period in which the absolute level of prices declines.
C) A period in which inflation is declining but at a rate of decline that is increasing.
D) A period in which the absolute level of prices increases.
E) None of the above.

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A) Brokerage company.
B) Mutual fund company.
C) Trust company.
D) Owner money is not at risk for all of the above.
E) Owner money is at risk for all of the above.

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