Eco. Unit 2 Quiz 3

"But if any provide not for his own, and specially for those of his own house, he hath denied the faith, and is worse than an infidel." ( ________ 5:8)

1 Timothy

The exhortation by Paul in Romans __:8 is: Owe no man any thing, but to love one another: for he that loveth another hath fulfilled the law. This simply means that continual debt is not pleasing to the Lord.

13

After passage of the ____ deregulation law, the Baby Bells started merging with each other, and two of them attempted to re-merge into ____ ® .

1996, AT&T

broken up into one long-distance company and seven "Baby Bells" to provide local service

AT&T

In a ________, the priority debts -- the debts that the court feels should be paid first -- are paid, then the unsecured debts are added up.

Bankruptcy

________ was the first state to undertake the restructuring of the electric utility industry on a state-wide basis.

California

A ________ bankruptcy is known as a "straight liquidation."

Chapter 7

Deregulation is about _____ rates and ______ supplies

Decreasing, Increasing

The responsibility to pay debts and due notes is called _______________.

Finacial Obligation

Deregulated Investor Owned Utilities are known as

IOU's

Jesus taught financial responsibility to the government. The passage is found in ________ 17:27.

Matthew

a huge union of large corporations or utilities

Mega Merger

guidelines for controlling costs and expenditures by the consumer

Price setting standard

What do we call those that are in support of something?

Proponets

A Chapter 13 bankruptcy filing is called what?

Reorginization

realigning or adjusting to meet new qualifications or needs

Restructuring

an anti-monopoly act awarded victim of a monopoly three times the amount his business lost

Sherman Antitrust Act of 1890

the act of being declared legally insolvent.

bankruptcy

In __________, government loosens controls and allows other companies to enter the market.

deregulation

central points of business

hubs

The right to take, sell, or hold property as security or payment of a debt.

lien

the debtor surrenders his nonexempt property for division among his creditors.

liquidation

obligation to pay to another a certain amount of money which has collateral that the creditor may seize.

secured debt

The section of the U.S.Code which deals with the rules and procedures of Bankruptcy.

title 11

a promise or obligation to pay to another a certain amount of money which has no collateral.

unsecured debt