1. notes and coins whose worth is determined and guaranteed by the state is termed ? a. Fiat money
b. gold standard
c. commodity money
d. money of intrinsic value

2. which of the following is part of the public sector of the economy?
a. a public corporation
b. a public company
c. a co-operative
d. a franchise

3. Notes and coins are a main form of money for all of the following reasons EXECPT
a. they are portable
b. they are durable
c. they are easily divisible
d. they will ensure maximum satisfaction of wants
e. other, if other state what it is

Biochemical corp. requires $600,000 in financing over the next three years. the firm can borrow the funds for three years at 10.80 percent interest per year. the ceo decides to do a forecast and predicts that if she utilizes short-term financing instead, she will pay 7.50 percent interest in the first year, 12.15 percent interest in the second year, and 8.25 percent interest in the third year. assume interest is paid in full at the end of each year. a)determine the total interest cost under each plan. a) long term fixed rate: b) short term fixed rate: b) which plan is less costly? a) long term fixed rate plan b) short term variable rate plan