On 12 January 2016 Rajiv Wrote a Cheque to Brett

question 20

Multiple Choice

On 12 January 2016 Rajiv wrote a cheque to Brett.That cheque was dated for 28 January 2016.Although Rajiv had plenty of funds in his account when he wrote the cheque, he spent virtually every cent he had during a ridiculous gambling spree in the summer of 2016.Brett, who was unaware of that fact, finally presented the cheque to the bank for payment on 29 November 2016.Given the state of Rajiv's account, however, the bank refused to honour the cheque.At that point, Rajiv's cheque can be characterized as being

• A)postdated, countermanded, and certified.
• B)certified, postdated, and staledated.
• C)staledated, overdrawn, and countermanded.
• D)postdated, staledated, and overdrawn.
• E)postdated, overdrawn, and certified.

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Definitions:

Union Members

Individuals who belong to an organization that represents workers in negotiations with employers over wages, benefits, and working conditions.

Shirking

Shirking describes when employees underperform or exert less effort than expected because of insufficient incentives or the absence of effective monitoring.

Perfectly Inelastic

Describes a situation where the quantity demanded or supplied does not change in response to a change in price; the demand or supply curve is vertical.

Labor Supply Curve

A visual diagram that illustrates the connection between the salary provided and the amount of work employees are ready to offer.