On April 10, Olivia Owner offers Peter Painter $5,000 to pai…

On April 10, Olivia Owner offers Peter Painter $5,000 to paint the exterior of Owner’s lakefront cabin. The job will, however, require scraping off some of the older paint around the porch that has been peeling. Painter says he is not sure he can do it for that price. Owner, who is about to leave on a fourteen-day cruise in the Mediterranean, says, “Well, think about it. You can decide while I’m off on the holiday. If you agree, just go ahead and do it.” Owner then departs. Two days later, on April 12, Painter goes to the cabin and spends six hours scraping paint. This takes much more time than Painter estimated, and he realizes that this job would be much more work than he expected and that he would need to get more than $5,000 for the work. He quits and leaves the premises. The next day, April 13, Painter is offered a job that pays a good deal more and will take a couple of weeks to complete. He immediately emails Owner that he has decided not to do the lakefront cabin job. Owner is unable to check emails for a few days, and ultimately sees Painter’s message on April 15. When Owner returns, she discovers that she cannot hire anyone else to paint the cabin for less than $8,500. She demands that Painter finish the work. He refuses. She hires another company and then sues Painter for the $3,500 extra that the painting costs her. (A) What are Olivia Owner’s arguments in support of her claim that a contract was formed and that she is entitled to damages? Also, which of those arguments, if any, do you expect would prevail? (B) What are Peter Painter’s arguments that no contract was formed or that Olivia Owner is otherwise not entitled to the damages she claims? Also, which of those arguments, if any, do you expect would prevail?

Which of the following are current uses for cryptocurrencies…

Which of the following are current uses for cryptocurrencies or blockchains: A. Speculating on price movements of cryptocurrencies. B. Developing AI with large language models (LLMs) C. Making charitable donations D.  Remitting money from one country to another.

If the Federal Reserve wants to expand reserves in the banki…

If the Federal Reserve wants to expand reserves in the banking system, it will: A.  purchase government securities. B.  raise the discount rate. C.  sell government securities. D. use open market operations to sell short-term debt to banks with the goal of raising the Fed Funds rate.

Stock values computed by valuation models may differ from ac…

Stock values computed by valuation models may differ from actual market prices because it is difficult to: A. estimate future dividend growth rates. B. determine the correct earnings multiple for a stock. C. forecast a stock’s future dividends. D. determine if the stock is public or private.

Which of the following is/are true: A. The Federal Reserve p…

Which of the following is/are true: A. The Federal Reserve performs bank examinations as part of its mandate. B. Financial Stability is outside the mandate of the Federal Reserve and instead is the sole responsibility of the US Treasury. C. The ECB’s location in Germany is due to Germany’s strong aversion to inflation. D. The Federal Reserve was established to regulate the money supply, maintain financial stability, and serve as a lender of last resort.