G.K. Questions on Banking
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safe deposit box
Unit of account
Store of value
Medium of exchange
the electronic transfer of a payment directly from the account of the payer to the recipient's account.
The Principal and Interest are always.....
What is the name of this symbol?
The amount of money in your account after all deposits have been posted and all checks / withdrawals have cleared.
endorsing a check
fee-free debit cards
"The minimum acceptable number of persons required to be present to constitute a meeting"
What is the purpose of the The Fed?
Conducting the nation's monetary policy
Deal with Taxes
If you open a checking account, you will be able to:
deposit your paycheck into your account
withdraw money from your account
all of the above
Suppose the required reserve ratio is 20% and there is no currency drain. Then a $100 increase in the monetary base results in the banking system increasing the quantity of money by