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Which of the Following Statements Is True

question 51

Multiple Choice

Which of the following statements is true?


Definitions:

Excess Reserves

Funds held by banks over and above the legally mandated reserve requirement.

Required Reserves

The minimum amount of funds that a bank is required by regulation to hold in reserve against deposits made by customers.

Total Reserves

The amount of funds that a bank or financial institution has in its vault or with the central bank, available to meet any withdrawal or payment demands.

Debit Cards

Payment cards that deduct money directly from a consumer's checking account to pay for a purchase.

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