The _______________ is a financial instrument (still in use today) that contributed to the "tulipmania" phenomenon is:

Question

Quizplus · Accepted Answer

The futures contract is a financial instrument that allows an investor to purchase a commodity at a fixed price on a future date. This contributed to the tulipmania phenomenon because tulip bulbs were extremely valuable and investors would purchase futures contracts for high prices, driving up the value even further. As the bubble eventually burst, many investors lost a significant amount of money.

The _______________ Is a Financial Instrument (Still in Use Today)