Which of the Following Statements Is Not True

question 11

Multiple Choice

Which of the following statements is not true?

• A) U.S. export control law requires the issuance of an export license to cover the movement of controlled U.S.-origin products from India to Taiwan.
• B) The Department of Commerce will not recommend the decontrol of a product on grounds that a non-U.S. item of comparable quality is available rendering the control ineffective.
• C) The Bureau of Industry and Security has 90 days to review and rule on the application of an export license.
• D) Civil penalties may be imposed on a strict liability basis for violations of export control law without having to prove criminal intent.

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Definitions:

Discount Rate

The interest rate charged to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank's lending facility.

Required Reserve Ratio

Percentage of deposits that must be held as vault cash and reserve deposits by all depository institutions.

Monetary Multiplier

A factor by which a change in money supply is magnified or multiplied to result in a change in national income and output.

Actual Reserves

The total amount of funds that a bank has in its vault or deposited with the central bank, available to meet withdrawal demands or regulatory requirements.