You Purchased a Futures Contract on Corn at a Futures

question 75

Multiple Choice

You purchased a futures contract on corn at a futures price of 331, and at the time of expiration, the price was 343. What was your profit or loss?

• A) −$12.00
• B) $12.00
• C) −$600
• D) $600

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Definitions:

Socialists

Socialists are individuals or groups advocating for a political and economic system where the means of production, distribution, and exchange are owned or regulated by the community as a whole.

Bureaucracy

A system of management and administration characterized by hierarchical structure, defined roles and responsibilities, and a set of formal rules and procedures.

Rational Place

Refers to an environment or context in which decisions are made based on logical reasoning and empirical evidence.

Moral Place

A conceptual space or position that is accorded moral significance and ethical consideration within a society or community.