The Words, "Pay to Allan Smith" Followed by the Endorser's

question 46

Multiple Choice

The words, "Pay to Allan Smith" followed by the endorser's signature create ________

• A) a blank endorsement
• B) a qualified endorsement
• C) a special endorsement
• D) a limited endorsement
• E) a specific endorsement

---

Definitions:

Permanent Incomes

Refers to the average annual income an individual expects over their lifetime, considering various stages of their career and life.

Standard Of Living

A level of material comfort as measured by the goods, services, and luxuries available to an individual, group, or nation.

Marginal Utility

The extra pleasure or benefit gained by consuming one more unit of a product or service.

Utilitarian

A normative ethical theory that posits the best action is the one that maximizes utility, generally defined as maximizing happiness and reducing suffering.