26. Which of the following instruments is typically issued at a discount to face value and pays no periodic interest?
a) Treasury bills
b) Commercial paper
c) Certificates of deposit
d) Repurchase agreements
27. What is the minimum denomination for a Treasury bill?
a) $1,000
b) $10,000
c) $100,000
d) $1,000,000
28. What is the purpose of issuing certificates of deposit?
a) To finance government budget deficits
b) To finance long-term investment projects
c) To finance short-term working capital needs
d) To finance international trade transactions
29. Which of the following instruments is typically issued by foreign governments or corporations?
a) Treasury bills
b) Commercial paper
c) Certificates of deposit
d) Repurchase agreements
30. Which of the following instruments is primarily used to finance international trade transactions?
a) Treasury bills
b) Commercial paper
c) Certificates of deposit
d) Repurchase agreements
