no explanation needed, please answer all the MCQs only

47. If the Federal Reserve believes actual GDP is growing much more slowly than its potential, it will: a) raise its target for the federal funds rate in order to weaken aggregate demand b) lower its target for the federal funds rate in order to weaken aggregate demand c) raise its target for the federal funds rate in order to strengthen aggregate demand d) lower its target for the federal funds rate in order to strengthen aggregate demand 48. Which of the following is a false statement? a) Brokers are paid a fee for their agent services; dealers earn the bid asked spread as principals in transactions. b) The more customized or complex a security, the wider the bid asked spread c) The less volatile the price of a security, the wider the bid asked spread. d) Dealers bear the risk of price change during the search process; the customer bears the risk as the broker searches. a) none of these 49. A company's Book Value is $75 million. Last year it produced an (after-tax) ROE of 20%. If its dividend pay-out ratio is 40%, its Retained Earnings were: a) T b) c) $6 million $9 million $15 million $30 million d) 50. A company makes $1 million in after-tax profits for the year. Rather than pay dividends, it spends the entire amount on new equipment. Which of the following is true? a) Its leverage ratio at the end of the year is higher than it was one year before b) Its retained earnings for the year equal zero. c) Its book value at the end of the year is $1 million greater than that of one year before. d) Its book value at the end of the year is the same as that of one year before. that 51. Because it provides the option to convert, a convertible bond will have a yield (interest rate) of an otherwise similar non-convertible bond of the same issuer. a) above b) below c) equal to 52. Suppose a company increases the price of its product and demand hardly declines. Which of the following will increase? a) profit margin b) return-on-equity c) taxes d) all the above