Seth and Rachel have original investments of $50,000 and $100,000 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income: interest on original investments at 15%; salary allowances of $24,000 and $20,000, respectively; and the remainder to be divided equally. How much of the net income of $90,000 is allocated to Seth?

Which of the following is an example of inside lag in monetary policy?

(A) The U.S. government debates a public works program and chooses not to spend money on new highways and railroads. (B) Members of the Board of Governors refuse to lower the discount rate until several months after a recession has begun. (C) Corporations respond slowly to increases in interest rates by reducing their planned investment for future years. (D) Individual banks ignore a reduction in the required reserve ratio and hold excess reserves.

Mutually exclusive events are:

A) events with identical probabilities. B) events that have no outcomes in common. C) events that have no effect on each other. D) events that are represented in a Venn diagram by two overlapping circles.