Exhibit 19-4 ​ Refer to Exhibit 19-4. as a Consequence of the Depicted

question 171

Multiple Choice

Exhibit 19-4 ​

Refer to Exhibit 19-4. As a consequence of the depicted change in the supply of X, the demand curve for Y shifted from D₁ to D₂. Which of the following pairs of goods are most likely represented by X and Y?

• A)cars and gasoline
• B)brand A peanut butter and brand B peanut butter
• C)water and diamonds
• D)milk and cereal

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Definitions:

Confirmed Letter of Credit

A letter of credit that has an additional guarantee by a second bank, ensuring payment under the letter of credit if the issuing bank fails to do so.

Seller's Bank

A bank appointed by a seller, often in trade transactions, to handle the documentation and receipt of payment from the buyer.

Liability

A company's or individual's legal responsibility for their actions or the state of being legally obligated to settle a debt.

Negotiable Bill of Lading

A document issued by a carrier that guarantees the delivery of goods to a specified party and can be transferred by endorsement to others.