A Chartered Bank's Reserves Are

question 147

Multiple Choice

A chartered bank's reserves are:

• A)liabilities to both the chartered bank and the Bank of Canada holding them.
• B)liabilities to the chartered bank and assets to the Bank of Canada holding them.
• C)assets to both the chartered bank and the Bank of Canada holding them.
• D)assets to the chartered bank and liabilities to the Bank of Canada holding them.

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Definitions:

Whey

A liquid by-product of cheese production, rich in proteins and lactose, commonly used as a dietary supplement and in various food products.

Cocoa

A key agricultural commodity produced from the seeds of the cacao tree, used primarily in the making of chocolate.

Consumption

The use of goods and services by households.

Silver Bells

Typically associated with a song or decoration, especially around Christmas time; not a standard economic term.