The Major Advantage to the Exporter of a Letter of Credit

question 29

True/False

The major advantage to the exporter of a letter of credit is that the exporter does not receive any funds until the documents have arrived at a local port or airfield.

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Definitions:

Private Sector

The part of the economy that is owned and operated by individuals and private companies, not controlled by the government.

P

In economic terms, often stands for Price, which reflects the monetary cost of acquiring a good or service in the market.

Q

Often used to denote "quantity" in economic equations and models.

Money Supply

The entirety of monetary resources accessible in an economy during a specific period.