BUSINESS

19. The size of the firm measured as the current stock price multiplied by the number of shares outstanding is referred to as the firm’s
A. market capitalization.
B. book value.
C. market makers.
D. constant growth model.

 

20. Stock Index Performance On November 26, 2007, The Dow Jones Industrial Average closed at 12,743.40, which was down 237.44 that day. What was the return (in percent) of the stock market that day?
A. -.02%
B. +.02%
C. -1.83
D. +1.83%

 

21. Stock Index Performance On November 27, 2007, The Dow Jones Industrial Average closed at 12,958.44, which was up 215.04 that day. What was the return (in percent) of the stock market that day?
A. -.017%
B. +.017%
C. -1.69%
D. +1.69

 

22. Buying Stock with Commission At your discount brokerage firm, it costs $9.95 per stock trade. How much money do you need to buy 100 shares of Ralph Lauren (RL), which trades at $85.13?
A. $8,503.05
B. $8,503.00
C. $8,522.95
D. $9,508.00

 

23. Buying Stock with Commission At your discount brokerage firm, it costs $8.50 per stock trade. How much money do you need to buy 200 shares of Apple (AAPL), which trades at $171.54?
A. $32,608.00
B. $34,299.50
C. $34,316.50
D. $36,008.00

 

24. Selling Stock with Commissions At your full-service brokerage firm, it costs $110 per stock trade. How much money do you receive after selling 100 shares of Time Warner, Inc. (TMX), which trades at $22.62?
A. $2,152.00
B. $2,262.00
C. $2,372.00
D. $2,388.20

 

25. Selling Stock with Commissions At your full-service brokerage firm, it costs $120 per stock trade. How much money do you receive after selling 200 shares of Ralph Lauren (RL), which trades at $85.13?
A. $16,546.00
B. $16,906.00
C. $17,026.00
D. $17,146.00

 

26. Buying Stock with a Market Order You would like to buy shares of International Business Machines (IBM). The current bid and ask quotes are $96.17 and $96.24, respectively. You place a market buy-order for 100 shares that executes at these quoted prices. How much money did it cost to buy these shares?
A. $7.00
B. $9,617.00
C. $9,624.00
D. $19,241.00

 

27. Buying Stock with a Market Order You would like to buy shares of Nokia (NOK). The current bid and ask quotes are $20.13 and $20.15, respectively. You place a market buy-order for 300 shares that executes at these quoted prices. How much money did it cost to buy these shares?
A. $6.00
B. $6,039.00
C. $6,045.00
D. $12,084.00

 

28. Selling Stock with a Limit Order You would like to sell 100 shares of Pfizer, Inc. (PFE). The current bid and ask quotes are $27.22 and $27.25, respectively. You place a limit sell-order at $27.24. If the trade executes, how much money do you receive from the buyer?
A. $2,722.00
B. $2,724.00
C. $2,725.00
D. $5,446.00

 

29. Selling Stock with a Limit Order You would like to sell 400 shares of International Business Machines (IBM). The current bid and ask quotes are $96.24 and $96.17, respectively. You place a limit sell-order at $96.20. If the trade executes, how much money do you receive from the buyer?
A. $38,464.00
B. $38,468.00
C. $38,480.00
D. $38,496.00

 

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