At the End of 2008, Which of the Following Investment

question 25

Multiple Choice

At the end of 2008, which of the following investment banks remained independent?

• A)Bear Stearns
• B)Goldman Sachs
• C)Lehman Brothers
• D)Merrill Lynch
• E)a.and b.

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Definitions:

Nonrival

A property of certain goods where one person's consumption does not diminish the availability of the good for others.

Excludable

A property of a good or service wherein it is possible to prevent people who have not paid for it from having access to it.

Social Goods

Goods that benefit all members of society and whose consumption does not reduce their availability to others.

Nonrival

A characteristic of a good whereby its consumption by one individual does not reduce the amount available for consumption by others.