The Bank That Is Responsible for Inspecting the Documents to Be

question 11

Multiple Choice

The bank that is responsible for inspecting the documents to be sure they are in order,remitting payment to the seller,and negotiating the documents to the buyer is called:

• A) issuing bank.
• B) negotiating bank.
• C) advising bank.
• D) lading bank.

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Definitions:

Frederic Bastiat

A French economist and author known for his theories on economics and his advocacy of free markets and limited government.

Economic Theory

A set of principles and concepts that helps in the explanation and prediction of economic phenomena.

International Trade

The exchange of goods and services between countries, allowing for greater variety and availability of resources and products.

Domestic Consumption

The total amount of goods and services consumed by the residents of a country.