Economics - Unit 2, Quiz 3

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

13.

A (Chapter-blank) bankruptcy is known as a "straight liquidation".

7.

Deregulation is about (blank) rates and (blank) supplies.

Decreasing & Increasing.

In a Chapter 13 proceeding, the debtor surrenders his nonexempt property for division among his creditors.

False.

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

False.

The Marshall Plan was an anti-monopoly act which awarded the victim of a monopoly three times the amount that his business lost.

False.

Deregulated Investor Owned Utilities are known as (blank).

IOU's.

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

Matthew.

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

Proponents

A Chapter 13 bankruptcy filing is called what?

Reorganization.

"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." (1 Blank 5:8)

Timothy.

After passage of the 1996 deregulation law, the Baby Bells started merging with each other, and two of them attempted to re-merge into AT&T.

True.

In a bankruptcy, the priority debts are paid, then the unsecured debts are added up.

True.

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

True.

The responsibility to pay debts and due notes is called financial obligation.

True.