When doing business with former communist countries, Trader's Paradise insists on getting paid in a currency that can be traded freely in the foreign exchange market. The price of this currency is determined by the forces of supply and demand.
Which of the following is the mode of payment illustrated in this scenario?
A) community currency
B) private currency
C) local currency
D) convertible currency
Question 2
ABC Software has had difficulty obtaining funds to expand. A friend of the CEO recommends that the company should explore an offshore financial center, which ________.
A) is a country or territory whose financial sector features very few regulations and few, if any, taxes
B) tends to be characterized by political and economic instability making, it is an inexpensive but risky source of funds
C) typically lends money to companies that have had difficulty getting financing elsewhere because of poor credit records
D) is a financial center located in a resort community and is characterized by poor telecommunications infrastructure
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