According to Figure 6.1

question 63

Multiple Choice

According to Figure 6.1:

• A) soup is a normal good.
• B) soup is an inferior good.
• C) soup is a Giffen good.
• D) bread is an inferior good.

---

Definitions:

Revolving Credit Agreement

A legal financial contract between a lender and a borrower that allows the borrower to access funds up to a pre-approved credit limit, repay, and withdraw again.

Commercial Paper

An unsecured, short-term debt instrument issued by corporations, typically for financing accounts receivable and inventories.

Financing

Financing is the process of providing funds for business activities, making purchases, or investing.

Commitment Fees

Fees charged by lenders to a borrower for an unused or untapped credit line, ensuring the lender retains availability of the funds.