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The State Board of Education Where Joy Went to College

question 14

Multiple Choice

The State Board of Education where Joy went to college decided to give every graduate student in a science program with a combined GRE score more than 1,400 a $5,000 education grant. What type of decision was this?


Definitions:

Warrants

Financial derivatives that give the right, but not the obligation, to buy or sell a security at a specific price before a certain date.

Contracts

Legally binding agreements between two or more parties that outline terms and conditions for specified activities or transactions.

Fixed Price

A set cost that does not change over time, regardless of variations in market conditions or demand.

Preferred Stock

A category of corporate ownership that has precedence over common stock in terms of asset and earnings claims, typically featuring fixed dividend payments.

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