22. On an income of $100,000, your average tax rate was 20% and your highest marginal tax rate is 10%. Which of the following must be true? Your tax bald is $10,000 b. You did not pay a 10% rate on any of your income Your tax paid is $20.000 d. You did not pay a rate below 20% on any of your income 23. h Fach of the following are tools of the Federal Reserve EXCEPT The ability to print money e ring the discount rate c Setting reserve requirements Changing tax rates 24. You bought a stock for $20 per share 5 years ago and it is worth $10 today. What is your annualized rate of return rounded to nearest percent? 100% 25. A project will be financed with 25% equity and 75% debt. The required equity return is 10% and the required debt return ist. What is the weighted-average cost of capital (WACC? a 3.006 5.5% c. 7.0% d. 8.5% 26 National Economic Policy objectives include each of the following EXCEPT a. Economic growth b. High employment c Price stability d. Free trade 27. A government can raise funds to pay for its spending by Taxing Borrowing Printing money d. All of the above 28. A Fractional Reserve System is a. Ability of the banking system to alter the money supply b. The way the Federal Reserve prints money c. A way that companies manage cash for Working Capital d. All of the above Page 9 of 13