Answer:
----->Traders would deposit their gold with goldsmiths.
--->Goldsmiths issued paper receipts in excess of the amount of gold held.
--->Goldsmiths put the paper receipts into circulation by making loans.
Explanation:
Answer:
C. 86.17%
Explanation:
The computation of the expected dividend payout ratio is shown below:
Expected dividend pay out ratio = 100 - {(capital budget × equity ratio) ÷ (net income} × 100
= 100 - {($83,000,000 × 30%) ÷ ($180,000,000} × 100
= 100 - (24,900,000 ÷ $180,000,000) × 100
= 100 - 13.83%
= 86.17%
All other information which is given is not relevant. Hence, ignored it
Answer:
The Economic Stabilization Fund is also known as the rainy day fund.
Explanation:
This is a fund that the state of Texas (and many other U.S. states) can access in times of economic distress, in order to fund state spending.
The reason for this is that Texas, by it's constitution, must run a balanced budget, meaning that it cannot take on debt in case of deficit. This is why, in times when revenues do not match expenditures, the rainy day fund can be used as an option of last resort.
