To Be Negotiable, the Instrument Must Satisfy All Except Which

question 37

Multiple Choice

To be negotiable, the instrument must satisfy all except which one of the following requirements?

• A) It must contain a promise or order to pay.
• B) It must be for a certain amount.
• C) It must be payable on demand.
• D) It must be signed.

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Definitions:

MPC

Marginal Propensity to Consume, which represents the ratio of change in consumer spending to a change in household income.

MPS

The marginal propensity to save, which is the proportion of an increase in income that is saved rather than spent on consumption.

Disposable Income

Funds at households' discretion for savings and spending pursuits after the deduction of income taxes.

Autonomous Consumption

The minimum level of consumption that would still occur even if a consumer had no income, based on basic needs and obligations.