A Certificate of Deposit Is

question 5

Multiple Choice

A certificate of deposit is:

• A) an instrument in which the maker makes an unconditional promise to pay a fixed amount of money with interest to the payee on demand.
• B) the most widely used form of commercial paper that is a draft payable on demand and drawn on a bank.
• C) an instrument in which the maker makes an unconditional promise to pay a fixed amount of money without interest to the payee at the specified future time.
• D) an instrument containing an acknowledgment by a bank that it has received a deposit of money and a promise to repay the sum of money.

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Definitions:

Quantity Demanded

Quantity demanded refers to the total amount of a product consumers are willing to purchase at a specific price level, holding all else constant.

Quantity Demanded

It refers to the total amount of a good or service that consumers are willing and able to purchase at a particular price over a given period of time.

Willing And Able

The condition of being both interested in making an economic transaction and capable of doing so.

Purchase

The act of buying goods or services.