Q. In Japan, consumers use their mobile phones to pay at vending machines and for small purchases such as subway fares and movie rentals. In about 100 words, outline reasons that you think mobile phone payment systems have not become widely used in the United States.
Q2. "Give an example of a bank balance sheet with a leverage ratio of 10. If the value of the bank's assets rises by 5 percent, what happens to the value of the owners' equity in this bank? Explain how large a decline in the value of bank assets would it take to reduce this bank's capital to zero.