If the Market Rate for 90-Day B/As Is 6

question 50

Multiple Choice

If the market rate for 90-day B/As is 6.0 percent, calculate the amount the exporter will receive if he discounts the B/A with the importer's bank.

• A)$2,945,625
• B)$2,990,625
• C)$3,000,000
• D)$3,009,375

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Definitions:

Minimum-Wage Laws

Laws establishing the minimum per-hour payment that employers are legally allowed to offer their employees.

Unemployment

The situation in which individuals who are able and willing to work cannot find employment.

Minimum-Wage Law

Legislation that sets the lowest hourly wage rate that employers can legally pay their workers.

Equilibrium Wage

The wage level at which the quantity of labor demanded by employers matches the quantity of labor supplied by workers, leading to a stable employment situation.