business

a mathematician who uses statistics to calculate insurance premiums

the 2nd largest stock exchange in the US (although has now been acquired by them), also in NYC, pioneered many major ETFs like the SPDRs

The top 3 automakers in the US are: ___ (often referred to as ___)

stock of a large high-quality, financially sound corporation that has been around for many years, a safe investment

the purchase of an asset by a firm

an association in which producers of a similar or identical product try to obtain a monopoly over the sale of the product, e.g. OPEC

Chapter ___ bankruptcy is “liquidation”, Chapter ___ bankruptcy is “rehabilitation”

a corporation with diversified holdings that are acquired through mergers and acquisitions but that are not necessarily related

the interest rate charged by the Federal Reserve System on loans it makes to the banking system, uses this to regulate interest rates and stimulate the economy (last resort since the rate is higher than the federal funds rate)

the interest rate when one bank borrows money from another bank, first option since the rate is lower than the discount rate

act of a corporation selling off a subsidiary company or division, (to encourage ending apartheid many Americans urged this on corporations doing business in South Africa)

feature of life insurance policies stating that the insurer will pay twice the face value of the policy if the insured dies accidentally

index of 30 major industrial companies, used to give investors a general picture of the stock market

a shift in either demand or supply of a good or service depending on its price, demand is said to be ___ when it responds quickly to changes in prices, and not ___ when it responds sluggishly

the right of a govmt to take private property for public purpose, usually with just compensation of the owner

a tax, similar to a sales tax, imposed on some goods, especially luxuries and cars

the taking over of private property by a govmt (e.g. eminent domain in the US)

Won the Nobel Prize in Economics in 1976 for his work on monetary theory, advocates free markets without government intervention, laissez-faire policy, said “there’s no such thing as a free lunch”

Countries in the G8 or “Group of Eight”

name of hedge fund that collapsed in 1998 due to high leverage during the Asian and Russian financial crises

an agency, dominated by wealthy nations, that lends money to developing nations

describes that individuals seeking their economic self-interest actually benefit society more than they would if they tried to benefit society directly, coined by Adam Smith (e.g. what’s good for the country is good for GM)

20th British economist who advocated vast govmt spending in times of recession, contrast to Hayek

the purchase of a company mainly with borrowed money on the expectation that the purchaser can repay from the company’s future profits or by selling its assets, usually via junk bonds to raise the cash