Liz and Jeff live in California, a state that recognizes community property. Jeff is a machinist who makes $30,000 a year. Liz is the owner of a franchise where her take-home profit is approximately $75,000 a year. Jeff and Liz purchased a house during their marriage wherein Liz paid three-fourths of the purchase price and Jeff paid one-fourth. Which of the following statements is correct with regard to Jeff and Liz? Each owns one-half of the real property and other assets they acquire during the marriage. The community property rules do not allow Jeff and Liz to maintain separate ownership of assets they each bring to the marriage or inherit. Jeff owns one-fourth of the property and Liz owns three-fourths. Community property can be sold by Jeff or Liz without consent by the other.

Ummit record company is negotiating with two banks for a $157,000 loan. fidelity bank requires a compensating balance of 24 percent, discounts the loan, and wants to be paid back in four quarterly payments. southwest bank requires a compensating balance of 12 percent, does not discount the loan, but wants to be paid back in 12 monthly installments. the stated rate for both banks is 9 percent. compensating balances will be subtracted from the $157,000 in determining the available funds in part a. a-1. calculate the effective interest rate for fidelity bank and southwest bank. (do not round intermediate calculations. input your answers as a percent rounded to 2 decimal places.) a-2. which loan should summit accept? southwest bank fidelity bank b. recompute the effective cost of interest, assuming that summit ordinarily maintains $37,680 at each bank in deposits that will serve as compensating balances

If a government accumulates chronic budget deficits over time, what's one possible result? a. a collective action problem b. a debt crisis c. regulatory capture d. an unfunded liability

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