Which of the Following Statements Is True of the Service

question 28

Multiple Choice

Which of the following statements is true of the service sector of the economy?​

• A)​It includes the production of basic materials as well as the production of finished products.
• B)It includes transportation, financial services, insurance, and retail sales.​
• C)It provides essential infrastructure to all other sectors.​
• D)It is important to collective well-being because it meets needs that are not addressed by other sectors.​

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Definitions:

Long-Term Debt

A financial obligation that is due for repayment in more than one year's time.

Ten-Year Treasury Note

A government debt security issued by the U.S. Treasury with a ten-year maturity, which pays interest to the holder every six months.

Cash Equivalent

Short-term, highly liquid investments that are easily convertible to known amounts of cash and close to their maturity.

Certificate of Deposit

A time deposit at a bank or financial institution that offers a fixed interest rate over a specified period.