A Revolving L/C Exists Where the Tenor (Maturity) or Amount

question 18

True/False

A revolving L/C exists where the tenor (maturity) or amount of the L/C is required permission for every transaction.

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Definitions:

Pooling Equilibrium

A situation in a market where all types of customers receive the same offer or treatment from a seller because the seller cannot distinguish between different types of customers.

Microeconomics

The branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources.

Wage Cut

A reduction in the rate of pay received by workers, often implemented by employers to reduce costs or in response to economic conditions.

Marginal Products

The additional output that is produced by employing one more unit of a variable factor of production, holding other inputs constant.