A ______ Is a Specific Draft,drawn by the Owner of a Checking

question 17

Multiple Choice

A ______ is a specific draft,drawn by the owner of a checking account,ordering the bank to pay the payee from that drawer's account.

• A) Promissory contract
• B) Certificates of deposit
• C) Note
• D) Check
• E) Time instrument

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Definitions:

Deadweight Loss

The loss of economic efficiency that occurs when the equilibrium for a good or service is not achieved.

Market Intervention

Actions taken by a government or other authority to affect the market, often to correct market failures or achieve certain policy objectives.

Price Ceiling

A government-imposed limit on how high a price can be charged for a product, intended to protect consumers from high prices.

Price Floor

A government- or authority-imposed minimum price that can be charged for a good or service, often above the equilibrium price.