Universal life insurance allows the policy owner to modify the:

A) face value of the policy and the premiums.
B) face value of the policy,but not the premiums.
C) premiums,but not the face value of the policy.
D) face value of the policy and obtain refunds of premiums already paid.

One afternoon you find a notebook filled with incomprehensible mathematical notations outside the Faculty of Business building and, realizing that it belongs to a professor in the Philosophy Department whose name is on the cover, you put it under the door of his office with a note telling him that you found it. That night, on the eleven o'clock news, you see an interview with the professor who is telling the reporter that he has lost the notebook in which he had worked out the meaning of life, and you hear him offer $10,000 for its safe return. Discuss your legal position in relation to whether or not you can claim the reward if the professor refuses to pay you.

Use the following two statements to answer this question: I. Isoquants cannot cross one another.
II) An isoquant that is twice the distance from the origin represents twice the level of output.

A) Both I and II are true.
B) I is true, and II is false.
C) I is false, and II is true.
D) Both I and II are false.

Licenses that can be bought and sold by polluters and that enable the holder to pollute up to a specified amount during a given period are called:

A) emissions taxes.
B) Pigouvian taxes.
C) tradable emissions permits.
D) environmental standards.

Which of these is an essential element of a bailment?

A) The bailee has no responsibility for the bailed property.
B) There has to be a written agreement between the two parties.
C) The bailee is allowed to make changes to the bailed property.
D) The bailor owns personal property or holds the right to possess it.

The financial ratio measured as net income divided by sales is known as the firm's:

A) Profit margin.
B) Return on assets.
C) Return on equity.
D) Asset turnover.
E) Earnings before interest and taxes (EBIT) .