Which of the Following Financial Institutions Converted to Bank Holding

question 105

Multiple Choice

Which of the following financial institutions converted to bank holding companies in the financial collapse?

• A) Wells Fargo
• B) Goldman Sachs
• C) the National Bureau of Economic Holdings
• D) Citicorp
• E) the Federal Reserve

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Definitions:

Administrative Cost

Expenses related to the general operation of a business, including office supplies, salaries of non-production staff, and rent.

Efficiency

The extent to which resources are utilized to their maximum potential, minimizing waste and maximizing output or outcomes.

Proportional Income Tax

A tax system where the tax rate remains constant regardless of the amount of income earned, meaning taxpayers pay the same percentage of their income in taxes.

Total Income

Total Income refers to the aggregate earnings of an individual or organization from all sources before any deductions are made.