If the least wealthy person in a society has millions of dollars, should we still consider...
If the least wealthy person in a society has millions of dollars, should we still consider that person poor?
- think of relative vs absolute measures.
Homework Answers
In absolute terms the person seems to be rich; however, in relative term the person is still poor. When the rest of the people have more wealth and means, the price level and the average living standard will be accordingly. So, the person who is least wealthy will still have a much lower living standard than the average. So, the person would be called poor in the relative term.
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Mortgage loans
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Consider the following data (in millions) from Trident Financial
Inc., which has two main divisions, mortgage loans and consumer
loans:
Mortgage Loans
Consumer Loans
Average total assets
$
1,100
$
21,250
Operating income
$
242
$
2,550
Return on investment (ROI)
22.00
%
12.00
%
Required:
1. Based on ROI, which division is more successful?
Mortgage loans
Consumer loans
2. Trident uses residual income (RI) as a measure of the
financial performance of its divisions. What is the RI for...
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