Match Each Term with Its Definition

question 75

Multiple Choice

Match each term with its definition.
-Method of crediting and debiting accounts by computer without checks or deposit slips

• A)deposit record
• B)deposit slip
• C)electronic funds transfer system
• D)endorsement
• E)endorser
• F)third-party check
• G)limited check
• H)maker
• I)MICR numbers
• J)money order

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Definitions:

Net Domestic Product

The total value of all goods and services produced within a country's borders in a given time period, after accounting for depreciation.

Real GDP

Gross Domestic Product adjusted for inflation, providing a more accurate picture of an economy's size and how it's growing over time.

National Income

The total income earned by a country's residents and businesses, including wages, rent, interest, and profits.

Government Purchases

Expenditures made by local, state, or federal government sectors on goods and services that directly absorb resources.