A(n) ________ Is Guaranteed by Both the Exporter's Bank in the Country

question 205

Multiple Choice

A(n) ________ is guaranteed by both the exporter's bank in the country of export and the importer's bank in the country of import.

• A) revocable letter of credit
• B) confirmed letter of credit
• C) bill of lading
• D) irrevocable letter of credit

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Definitions:

Absolute Threshold

The minimum intensity of a stimulus that one can perceive, marking the boundary between non-detection and detection of a stimulus.

Weber's Law

A principle in psychology that states the smallest change in a stimulus, such as weight or brightness, that can be detected is a constant proportion of the stimulus level.

Absolute Threshold

The minimum stimulus intensity required to detect a stimulus at least half the time.

Sensory Adaptation

The mechanism by which sensory receptors reduce their sensitivity to sustained stimuli as time progresses.