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Which of the following would best describe a toxic asset? (A) A complex financial contract for which buyers are scarce because the asset is too
Which of the following would best describe a toxic asset?
(A) A complex financial contract for which buyers are scarce because the asset is too difficult to value.
(B) A complex financial contract that is held by a failing firm and has therefore become nearly worthless.
(C) A complex financial contract that gains in value as the economy weakens.
(D) A complex financial asset that only has value when backed by the government.
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