Which of the following statements is a true statement about a futures trader’s gain or loss over the life of his or her position? (Assume that the trader opens a specific number of futures with the same asset, same delivery month, at the same futures price, at the same time, and on the same side, i.e., all long or all short.) This question may have more than one correct answer. You must select all that are correct in order to earn full credit.

The first long-distance postal system was created by the

Which of the following is a method used by a futures market clearinghouse to minimize default risk in the futures market? This question may have more than one correct answer. You must select all that are correct in order to earn full credit.

The author of Chinese Legalist philosophy was

Austronesian migrations

People began domesticating crops because it was less labor intensive than hunting and gathering

Suppose that you own a farm in the U.S. and want to protect your futures sales in the U.S. against the risk of falling agricultural prices. How could you hedge your risk?

The largest futures market in the U.S. today is the…

Part III: Essay Questions.  CHOOSE ONE of the following and answer it.  Make sure you write the number of the essay you are answering. And state your argument (main point) clearly in your topic sentence and then support it with evidence!                               Discuss the theoretical difference between the cultural approach Professor Grimstad took to teaching about San rock art to the macro-approach Genevieve Von Petzinger took to researching geometric signs in European rock art. Give specific examples from each talk. Explain why they are both important to the study of world history. Explain what changes happened to early societies as a result of the agricultural revolution. (mention at least 4 changes and explain why they happened)

A floor broker in the futures markets is…