Which of the Following Describes a Spot Contract

question 44

Multiple Choice

Which of the following describes a spot contract?

• A) a contract that creates the right-but not the obligation-to buy or sell a specific amount of a commodity at a fixed price within an agreed-upon period of time
• B) a contract in which a commodity is presently sold and the price is presently paid but delivery is, by agreement, delayed to a later date
• C) a contract for the immediate sale and delivery of a commodity, such as a currency
• D) a promise to buy or sell a commodity for a specified price, with both delivery and payment to be made at a specified future date

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Definitions:

Kitchen Debate

A series of informal exchanges in 1959 between U.S. Vice President Richard Nixon and Soviet Premier Nikita Khrushchev, highlighting the lifestyle and technological differences between the United States and the Soviet Union.

Racially Integrated

A society or group in which people of different races coexist without segregation.

Blue-Collar

Describes jobs or workers involved in manual labor, often in industries like manufacturing, construction, and maintenance.

Income Equality

The extent to which income is distributed in an equitable manner among a population, often measured to assess socio-economic health.