The Spot Price on Cocoa Is $3,840 a Ton

question 50

Multiple Choice

The spot price on cocoa is $3,840 a ton. The futures price is $3,450 a ton. The basis is ________ and the market is a(n) ________ market.

• A)−390; carrying-charge
• B)−390; inverted
• C)60; inverted
• D)390; carrying-charge
• E)390; inverted

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Definitions:

Universal Brotherhood

The philosophical and ethical notion that all humans are connected and should treat each other with respect and kindness.

Constitution

The fundamental law or set of principles by which a state or organization is governed, defining the structure of government, the powers of its branches, and the rights of citizens.

Colonization

The process by which a country takes control over foreign lands, territories, or peoples to exploit them economically, often accompanied by settlement and economic domination.

Free Blacks

African Americans who were not enslaved and had either gained freedom through manumission, legal emancipation, or were born to free black parents.