Manatee Products, a U

question 17

Multiple Choice

Manatee Products, a U.S. company, is exporting to a Japanese company. The two parties agree on a draft, but Manatee Products wants it to be a draft that is payable on presentation to the Japanese company. Manatee Products is asking for a(n)

• A) bill of lading.
• B) sight draft.
• C) letter of credit.
• D) time draft.
• E) offset.

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Definitions:

Productivity Growth Rate

The rate at which the output of goods and services per unit of input (such as labor) increases over a specific period.

Output Per Capita

The total value of all goods and services produced by an economy in a given period divided by the population size.

Per Capita Output

A measure of a country's economic output that divides the total gross domestic product (GDP) by its population.

Labor Force

The total number of people available for work, including both the employed and those unemployed but seeking employment.