Which of the Following Incorrectly States the Role of Banks

question 9

Multiple Choice

Which of the following incorrectly states the role of banks in import\export transactions involving a letter of credit (L\C) ?

• A)The exporter's bank is the advising and\or confirming bank.
• B)The importer's bank is the advising and\or confirming bank.
• C)The importer's bank is the advising,confirming,and issuing bank.
• D)The exporter's bank is the advising,confirming,and issuing bank.
• E)The importer's bank is neither advising nor confirming bank.

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Definitions:

Single Workers

Workers who are not only unmarried but also may represent sole earners in their households or individual contributors in the workforce.

Wage Level

The average rate of pay for workers or employees within a specific area or sector.

Labor Demand

The total amount of workers that employers are willing and able to hire at a given wage rate.

Full Employment

A situation in an economy where all available labor resources are being used in the most efficient way possible, typically characterized by the absence of cyclical unemployment.