When buying from a supplier in France, LTD, based in Cleveland, Ohio, has arranged for its bank to pay the supplier the cost of the desired material when it has passed customs in the United States. Which of the following terms is this type of bank promise called?
a. banker's acceptance
b. bank trust service
c. certified check
d. letter of credit
e. currency exchange agreement
d. letter of credit
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In 2013, U.S. goods and services exports totaled $2.3 trillion, which comes to about 15 percent of the GDP. This means that nearly 85 percent of the goods and services produced in the United States are consumed at home
Indicate whether the statement is true or false
A benefit to policymakers of following rules rather than discretion is
A. they could employ a larger staff of economists. B. they will contribute to the formation of an expectations trap. C. they would not be able to pursue time-inconsistent policies. D. they would gain flexibility in case the economy's structure changed.
Calculate the number of units produced by a business if the net marketing contribution and marketing and sales expenses are $625,000 and $175,000, respectively. The margin per unit is estimated to be $25
A) 50,000 B) 25,000 C) 32,000 D) 76,000 E) 43,000
Exclusive bargaining rights, a bulletin board in the workplace, and a union security clause are examples of ________________ rights.
Fill in the blank(s) with the appropriate word(s).