Which Of These Arrangements Allows One To Bypass Insurable Interest Laws? Investor-Originated Life Insurance Investor-originated life insurance (or IOLI), sometimes called stranger-originated life insurance (or STOLI) is used to circumvent state insurable interest statutes. This is done when an investor (or stranger) persuades an individual to take out life insurance specifically for the purpose of … Read more
Which Of The Following Are Not Deducted On A Typical Pay Stub? a. sales tax b. Social Security tax c. state income tax d. Medicare tax The correct option is a) sales tax Tax An obligation or monetary charge imposed by a government on an individual or an organization to raise funds for infrastructure improvements … Read more
Which of the following is a characteristic of monopolistic competition? a. few firms b. homogenous products c. easy entry and exit d. strategic dependence Which of the following is not a characteristic of monopolistic competition? a. large number of sellers b. differentiated products c. advertising d. barriers to entry Monopolistic Competition A monopolistic competition market … Read more
Which of The Following Statements About Taxes Is True? a. Taxes are the difference between disposable income and household savings, b. Taxes are the difference between exports and imports, c. Taxes are the difference between GDP and disposable income, d. Taxes are the difference between consumption expenditure and savings. The correct answer is a. Taxes are … Read more
Resources Used To Produce Goods And Services Are Called Factors of Production. Identify And Explain Any Five Factors of Production. Factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and … Read more
If a price ceiling is not binding, then: a. there will be a surplus in the market. b. there will be a shortage in the market. c. the market will be less efficient than it would be without the price ceiling. d. there will be no effect on the market price or quantity sold. The … Read more
Which of the following is not characteristic of perfect competition? a. Many buyers and sellers b. Ability to control the price c. Standardized (identical) products d. Free entry and exit of firms Perfect Competitive Market A perfectly competitive market refers to the market in which homogeneous product is sold by large firms at the same … Read more
Under what circumstance might you receive a tax refund from the IRS? (i) When your total of previous payments and applicable credits is less than the tax you owe. (ii) When your total of previous payments and applicable credits is more than the tax you owe. (iii) When your total of previous payments and applicable … Read more
Which type of portfolio might a young investor who is not afraid of risk choose? a. a portfolio with a high percentage of stocks b. a portfolio with a high percentage of conservative mutual funds c. a portfolio that is mostly cash d. a portfolio with a high percentage of treasury bonds The correct answer … Read more
A) Repetitive FocusB) Process FocusC) Product FocusD) Mass Customization Process strategies are described as the method by which a company creates its consumer goods. It is simply an organization’s approach to transforming resources into goods and services. The four process strategies are product focus, process focus, repetitive focus, and mass customization. Process Focus is an important strategy … Read more