Yankee Ship Captains Exchanged __________ in the Caribbean

question 29

Multiple Choice

Yankee ship captains exchanged __________ in the Caribbean.

• A) fish for molasses
• B) rum for textiles
• C) iron ore for slaves
• D) textiles for rice

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Definitions:

Municipal Bond

A debt security issued by a state, municipality, or county to finance its capital expenditures, usually tax-exempt from federal taxes and sometimes from state taxes.

Corporate Bond

A debt security issued by a corporation to raise funding, promising to pay back the principal amount along with interest.

Marginal Tax Rate

The marginal tax rate is the rate at which your last dollar of income is taxed, essentially the rate applied to your next dollar of taxable income.

Corporate Bond

A debt security issued by corporations to raise capital, promising to pay back the face value in addition to interest.