In complete voluntary liquidations, the sum of the firm's parts is worth more than the whole, for all of the following reasons EXCEPT:
a. the assets (or divisions) may be worth more in the hands of more competent managers.
b. liquidated assets always sell at a premium to their fair value.
c. the special tax treatment afforded liquidations provides a source of value over and above the firm's value as a going concern.
d. any diseconomies associated with excessive diversification can be eliminated by piecemeal sale through liquidation.
B
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The influential economist Jeffrey Sachs argues that throughout history, which of the following, with their long engagements in international trade, have been the most supportive of market institutions
A. Mountainous states B. Tropical regions C. Military societies D. Landlocked states E. Coastal states
Which alternative below is not true of current consumption?
A) It refers to goods and services used in the current time period. B) Generally, more of it leads to greater levels of satisfaction. C) It can increase through current borrowing. D) It is usually less desirable than future consumption.