1Demand for a product is likely to be price-inelastic:
Athe smaller the number of substitutes.
Bthe smaller the number of complements.
Cthe higher the price.
Dthe grater the fraction of income spent on it.

2If a raise in price from £1 to £1.10 caused supply to extend by 27%, price elasticity of supply would equal:
A17
B1.7
C2.7
D3.7

3A trade union may try to rise the wages of its members by all of the followings except:
AIncreasing their productivity.
BThreatening strike actions.
CIncreasing the supply of labour.
DAccepting revised working practices.

4These can be issued by a public company
Aordinary shares.
Bloans stocks.
Cbank loans.
Dmortgages.

5These shares have special rights concerning the distribution of dividends
ALoans stocks.
BOrdinary shares.
CPreference shares.
DCommon stocks.

6The stock market is a market for:
ANew issues of shares.
BStocks of goods and services.
CFinancial products.
DNew and second-hand shares.

7Which of the following is a function of the Central Bank
AMaking personal loans.
BMaking mortgages.
CSupervising the banking system.
DProviding low-cost loans

8Which of these types of banks in a modern economy specialized in helping large business organization to fund their operations and expansion, helping them to issue and sell stocks and shares on the stock market.
ASaving Banks.
BCredit Unions.
CInvestment Banks.
DIslamic Banks.

9Which of these types of accounts is a safe place to store your savings and to earn interests.
Acurrent account.
Bsavings account.
Cchecking account.
Ddeposit account.

10A ………………, is repaid with interest over a fixed period, it is a short-term loan, up to 5 years
A…commercial loan…
B…personal loan…
C…mortgage…
D…overdraft…

11A shareholder is
A any person or organization that is a part owner of a corporation’s stock
B any person or organization that is a part owner of a limited private company.
C any person or organization that owns a stock exchange.
D any person or organization that owns treasury bonds.

12The management tier of the union trade with executive members elected by unions members to run the union nationally is a
ABranch.
BDistrict committee.
CShop stewards.
DNational Executive.

13Which one of these is NOT a function of Trade Unions?
ASecuring improvements in member’s working conditions.
BEncouraging firms to increase worker participation in business decision-making.
CPromoting the distribution of dividends.
Dimproving member pay and other benefits.

14Which of these types of Trade Union best describe the National Union of Mineworkers in South Africa (NUM)?
AGeneral Union.
BIndustrial Union.
CCrafts Union.
DProfessional associations.

15Which of the following is NOT a function of a commercial bank
AMaking personal loans.
BProviding financial advise.
CProviding methods of payment.
DIssuing notes and coins.

If you answer all correctly I will ask another q, and choose you as best answer for nothing
so you get 20 points.
PLEASE

Correct answer gets the points! If no correct answer then closest does. Here’s a little about me. I have 3 kids & a husband, a mortgage but I don’t work. I play on the wii with my friends, I tan & I like distressed jeans and coffee. I like pop music & I go to church faithfully.

Trying to understand this statement "permanent loans on commercial real estate with amortizations ranging from 15-25 years and maturities of 5-7 years". How can a loan have a 5 year maturity and a 25 year amortization? If it matures at five years, I would’ve thought that is when the loan is due so there would be no further amortization, on the other hand if it is amortized over 25 years, it couldn’t possibly be "mature" at five years.

Clearly I’m not understanding something here.

Thanx for your help,

First it’s my relationship, he’s 35 and I’m 26 we’ve been together since I was 16. Now we have an 8 year old son together. In the beginning I felt happy and in love. But after my son was born I started feeling like something was missing so I broke up with him and stated dating someone else, since then my son’s dad and I have been off and on. We decided that we’d give it one last try so it’s been 3 months and I’m feeling like I want out again. He is a good man treats me and our son right and my family loves him and really wants us together, they think I’m crazy not to appreciate a good man, and I can understand that because my sister is 19 and has 2 ½ kids by a good for nothing little boy who doesn’t help her at all, and my mom has been through a divorce, but I’m just unhappy. We never have any money because he has to pay his mom’s mortgage because she’s bipolar and refuses to get help, we live in boring Orlando, FL. I have ONE friend and she is always depressed so we hardly even talk. I’ve stressed to him how badly I would like to move, I really love NY or even NJ and he’s from Connecticut so I was cool with that too altleast he would know people, but we can’t save any money because I have to pay all the bills with my checks and the 0 he just started giving me every 2 weeks (because his brother got a temporary job and started helping his mother out , so who knows how long that’s going to last) but he’s always had my back when I’m short on a bill, but it just seems like moving is on the bottom of his priority list. I want more but he seems content with how his life is, as long as we have sex he has no complaints. We argue almost every day because he thinks he knows everything and he’ll change things around to make it seem like he was right even though it’s not at all the way it happened….. I really would just rather be single but I know he’ll think I want someone else. (then he’ll start acting like an asshole like he does every time we’re not together) Plus I don’t want to keep putting my son through that. I tried to pray about it but I’m not sure if I even believe in God, I mean my family does but I don’t really buy into things that easily. They’re so many Priest, Pastors, etc. that turned out to be frauds that going to church is out of the question. I don’t know what to do anymore I think this world is a never ending cycle your born, you live, which to me is more like survive, then you die, because even if you’re are a good person Heaven isn’t promised……. So where do you end up? In hell, with all the murders and psycho paths that did wrong purposely, and didn’t care, yet they still were more fortunate to experience all the luxuries life had to offer….. It’s all so confusing to me. I don’t want to complain because I am grateful that I at least have the money to pay those bills but, is this it? I want to live the life that supposedly God gave me instead of just surviving it. Sorry so long I just wanted everyone to understand the whole reason I feel this way.
Thanks for reading, any advice??

The scandal continue to cause reactions as Alistair Darling, in charge of the UK’s finances seems to have claimed for six month the rent for a flat in south London while also claiming allowances for his free apartment in Downing street. With the European election coming, do you think this scandal will influence voters?

The Propery is a Three family but we are living in one of the apartments leaving two that we will be renting out to help afford our mortgage. Will this property stay taxed as residental because we are living there primary residence or is it commericial because we are going to be renting the two other apartments? Our current landlords really want us to buy the house as we really want it but we are very low income but by renting the other two places we will be able to afford the mortage and additional maitance costs and such. Also does anyone know how to go about purchasing we are going to meet with a mortgage company today but, we are first time home buys have live here at the property for 5 years already! I know there are grants to help but I don’t know the first thing to do about getting the process going! I have done my research and we can qaulify for the property but may have to have the Landlords take out a second mortgage option. They have agreed to do this already but we want to try to get it all by ourselves if we can! Any information would be great and appreciated!

What makes you eligible to put an offer on the house?
We are trying to go with USDA direct loan, and since they are out of funds now and they do not know when it will be distributed, our agent says that we can not put the offer on the house till we know when the fund will become available.
But I think I still can put a contingent offer anyways. I can state in my offer that this is what we offer to you, then state that we will close when the money will be available. And it is up to seller to decide to accept or decline our offer, but not to our agent that does not allows us to do this.
Even if you go with the commercial lender – being pre-approved does not guarantee you will get money at the end… So why we can’t give a choice to the seller to decide if they are willing to accept our offer or decline.

I live in a condo in Brooklyn, NY. it is around 830 square feet. My property tax is around 5,500 for the year. In my building I talked to a few people and their apartments are bigger and with a view and they pay around 2,100 for the year.

I called up The city of new york department of finance and I always get someone that says that property taxes are high and it is what my building management submitted when they built this building so I went to my building management and they said this has nothing to do with them.

Please help I dont have much money to file a lawyer or something what could I do. I mean isnt it common sense 830 square feet apartment cant run a property tax bill of that high. And if other people in building has bigger apartments how come theirs are cheaper I mean by 50 percent cheaper.

Please help.

You don’t have to listen long to politicians in Washington, D.C., to hear the rhetoric of class war. Both major party presidential candidates have used it at times with strategic purpose — that is, when it advanced their ambitions.

The expanding government bailout of institutions and individuals caught up in the national financial fiasco, however, points to a real class conflict in this country. It is not a conflict that divides Americans by wealth. It is a conflict that divides Americans by character.

First, consider the phony class war — the one both John McCain and Barack Obama have tried to exploit.

When President Bush in 2001 offered a proposal to cut income-tax rates for everyone who pays income taxes, McCain — who had lost a bitter primary campaign to Bush the year before and who still desired to become president — could not bring himself to vote for it.

Bush’s proposal cut taxes too much for the rich, McCain argued. His solution: Cast a vote to deny non-rich people a tax cut he decried as too small — on grounds he was saving them from paying for the rich to get a tax cut that was too big.

"I cannot in good conscience support a tax cut in which so many of the benefits go to the most fortunate among us, at the expense of middle-class Americans who most need tax relief," McCain said on the Senate floor.

In this campaign, Obama has expanded the phony class war by introducing a third group of potential combatants. He now classifies Americans as being either "rich," "middle class" or living in a sort of income-bracket no man’s land.

In a forum at the Saddleback Church last month, Pastor Rick Warren asked Obama to define "rich." Obama eventually said: "What I can say is, is that under the approach I’m taking, if you make 0,000 or less, you will see a tax cut. If you’re making 0,000 a year or more, you’re going to see a modest increase."

What about the Americans making between 0,000.01 and 9,999.99? What will Obama do to their tax bills? How does he want to manipulate them politically? Does he want to make them feel like victims, or does he want to hold them up as economic evil-doers to the worthier — yet put-upon — people making a mere 9,999.99 per year?

In real wars, there are unjust aggressors and victims forced to defend themselves. Presumably, if there were a class war in America, the unjust aggressors would be those who wrongfully take money or other things of value from those to whom it rightly belongs.

When Congress cut tax rates for all taxpayers, it was a wholly benign act. There were no victims, period. Congress did not — by cutting everyone’s tax rate — unjustly take money from anyone. Nor did taxpayers whose top rate dropped from 36 percent to 33 percent, allowing them to keep more of their own money, commit an act of aggression — financially or otherwise — against taxpayers whose top rate dropped from 28 percent to 25 percent.

But what about in the financial fiasco? Are there are unjust aggressors and true victims at the core of this crisis?

Absolutely. But the dividing line is not an income bracket, because people of all incomes are on both sides of this conflict. If you want to know which side you are on, just answer this question: Are you getting bailed out? Or does the government expect you to bail someone else out?

On one side are Americans who rely on themselves. On the other side are Americans who rely on the federal government — and politicians who exploit that reliance to gain and maintain political power, and corporate bureaucrats who exploit that reliance to get money.

On one side are Americans who exhibited the ancient virtues of hard work, thrift and prudence. The people who never bought — and never would buy — a house they could not afford. These people will pay for the bailout.

On the other side are Americans who exhibited a core vice of the welfare state: wanting something they did not earn. They took out a mortgage they could not afford, or from a position of government power pushed public policies promoting mortgages to people who could not afford them, or profited within some corporate bureaucracy from wholesale commerce in such mortgages. These are the people who will benefit from the bailout.

What is the solution? Roll back government dependency in all its forms. As long as the federal government maintains a welfare state, there will be politicians in Washington, D.C., who have an interest in increasing the number of people who will need bailouts and decreasing the number of people who pay.

how did real estate loans at commercial banks affect the economy
and how did adjustable rates and subprime mortgages rather than long-term fixed mortgages contribute to the financial crisis?

I am finishing up high school and moving into my first apartment with my fiance and I am going to need a car to get to work and college and run errands… But I have to pay for all of it ( I don’t have rich parents that will buy me a car for my 18th) and i have to get it soon after turning 18 and most dealers wont give financing to people with no credit so what is the best way to go about getting a used car that is at least a 2001 so i don’t have problems with it breaking down on me all the time…. Any advice?

This person (I don’t know this person) is selling a Toy Hauler (travel trailer). Anyway he owes about K to a commercial bank. Because the bank is commercial, the Title is in another state. IF I go with the seller to the bank. Get a payoff amount with a receipt. Have the bank send the title to an alternative address (mine) but it will take around 3 weeks. The seller is going to give me a copy of the receipt of payoff (because I’ll be there). I"ll have a "NOTORIZED" Bill of Sale, Seller will sign a Release of Liability. The bank is going to give a loan closing letter that states the lien has been paid, therefore in the clear.

Loan center said that there could be only one lien on each vehicle. So that gives me the impression that no random person that feels they are owed money can put a lien or judgement on it. You know like a second mortgage to a house….

I’m in California

Would you do this? With all the above documentation, is it safe enough? IS THERE ANYTHING ELSE I SHOULD ASK FOR?
I know that it’s risky and there are alot of toyhaulers out there but I’m looking for a 21 footer and this one has ALOT of upgrades. It is also in mint condition and has only been used 2 times. The generator has less than 10 miles on it.

Lets say I make 80K a year. I need to put 10% aside for my church but after that I am not sure how to calculate.

I have heard 25% and 33% for mortgage but i don’t know which one is correct for the present.
How much % for an emergency fund?

As for other finances, my car and motorcycle are paid off and other than that it would just be living expenses such as food or hobby spending.

(Im 20 and live at home right now so I am mostly trying to calculate how much house I can afford comfortably with a down payment of 40K)