Which one of the following statements regarding "basis" is true?

A) The basis is the difference between the futures price and the spot price.
B) The basis risk is borne by the hedger.
C) A short hedger suffers losses when the basis decreases.
D) The basis increases when the futures price increases by more than the spot price.
E) The basis is the difference between the futures price and the spot price, basis risk is borne by the hedger, and basis increases when the futures price increases by more than the spot price.

The United States Supreme Court hears approximately 175 cases per year.

Professional male golfers make far more income than do professional female golfers. The reason for the wage difference is

A) gender discrimination.
B) the supply of male golfers is far greater than the supply of female golfers.
C) the demand for male golfers is far greater than the demand for female golfers.
D) compensating differentials.

Once an attorney-client relationship arises, to encourage frankness, all communications between the parties are privileged.

A person who has not worked in six months and has given up looking for work is officially classified as

A) employed.
B) unemployed.
C) discouraged.
D) in the labor force.

Sending thank-you notes to large numbers of people is regarded as a:

A) basic, but effective, political technique.
B) way to make a quick showing.
C) method of keeping others informed.
D) method of controlling lines of communication.