To Certify a Check,the Bank Must

question 20

Multiple Choice

To certify a check,the bank must:

• A)tell the one who presents it.
• B)send a letter to the drawer.
• C)write the acceptance on the check.
• D)Any of the above will be sufficient.

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Definitions:

Price Ratio

The ratio of the prices of two goods or services, often used in the context of trade or barter.

Elasticity of Demand

A measure of how responsive the quantity demanded is to a change in price, indicating how a product's demand will fluctuate with pricing changes.

Marginal Rate

Often refers to the incremental increase in cost or benefit associated with a one-unit change in an economic activity.

Substitution

The economic principle where consumers replace more expensive items with less costly alternatives, or when firms swap higher-priced inputs with cheaper resources.