Twenty years after you leave college you are rich and famous. Your college calls on you for a $10 million gift to renovate a classroom building and name the building in your honor. You tell them you will be glad to give the gift because you learned so much and that is why you are successful. A year later the building is renovated and the college asks for the money. You decide to spend it on a new
jet and tell the college to get stuffed. You:
a. do not have to pay the money, promises of gifts do not create contracts
b. do not have to pay the money unless your promise was in writing and for a specific date
c. have to pay an amount equal to how much has been spent on the renovation work to date, not the full amount d. have to pay the money under the rule of promissory estoppel
e. have to pay the money under the rule of unliquidated debt
d
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A constant ratio plan adjusts a portfolio by c
A) investing a constant amount of money each period. B) maintaining a constant dividend yield. C) adjusting asset holdings to restore the initial target weights. D) maintaining a constant ratio of assets to the owner's wealth.
When a country imports more than it exports, it will:
A) be known as a net importing country and this portion of the GDP will have positive value. B) be known as a net importing country and this portion of its GDP will have a negative value. C) be known as a net exporting country and this portion of its GDP will have a positive value. D) be known as a net exporting country and this portion of its GDP will have a negative value.