Which of the Following Is True

question 48

Multiple Choice

Which of the following is true?

• A) All banks must process all checks through the Federal Reserve System.
• B) All banks must process all "on them" checks through the Federal Reserve System.
• C) The Federal Reserve System includes at least one regional bank in each state.
• D) The Federal Reserve System is not permitted to charge a fee for is processing services.
• E) Some banks use private clearinghouses, instead of the Federal Reserve System, to process checks.

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Definitions:

Normative Processes

The establishment of standards or norms that guide the behavior of individuals within a group or society.

Milgram's Study

A series of social psychology experiments conducted by Stanley Milgram, which measured the willingness of study participants to obey an authority figure who instructed them to perform acts conflicting with their personal conscience.

Joining The Crowd

The act of assimilating with a larger group, often to feel a sense of belonging or to conform to group norms and behaviors.

Milgram's Study

A series of social psychology experiments conducted by Stanley Milgram, which explored obedience to authority figures by having participants administer what they believed were electric shocks to another person.