The following events occurred for Johnson Company: Received investment of cash by organizers and distributed to them 1,000 shares of $1 par value common stock with a market price of $40 per share. Purchased $15,000 of equipment, paying $3,000 in cash and owing the rest on accounts payable to the manufacturer. Borrowed $10,000 cash from a bank. Loaned $800 to an employee who signed a note. Purchased $13,000 of land; paid $4,000 in cash and signed a note for the balance.

The former chairman of the federal reserve, alan greenspan, used the term "irrational exuberance" in 1996 to describe the high levels of optimism among stock market investors at the time. stock market indexes such as the s& p composite price index were at an all-time high. some commentators believed that the fed should intervene to slow the expansion of the economy. why would central banks want to clamp down when the economy is growing? a. to block the formation of unsustainable speculative asset bubbles. b. to curtail excessive profits in the banking system. c. to prevent inflationary forces from gathering momentum. d. all of the above. e. a and c only.