Statement I: Over the Last Two or Three Decades,our Economy

question 146

Multiple Choice

Statement I: Over the last two or three decades,our economy has become increasingly integrated with the global economy.
Statement II: While the global economy has caused the loss of millions of manufacturing jobs,so far white-collar jobs have not moved offshore.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Acceptance

is the agreement to the terms of an offer, contract, or proposal, thus forming a binding contract between the parties.

Insurable Interest

A requirement that a person stands to suffer a financial loss or certain types of losses from the damage, loss, or destruction of the subject matter of the insurance policy.

Purchase Money Security Interest

A legal claim that allows a lender to repossess or foreclose on property if the borrower fails to pay back the loan used to purchase the property.

Grain Elevator

A facility equipped to receive, store, and often ship grain.