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Marc, a Customer of the Blackstone Group, Mails a Cheque

question 109

Multiple Choice

Marc, a customer of The Blackstone Group, mails a cheque in payment on his account on Thursday, April 13. Blackstone receives the cheque on April 17 and deposits it into the bank on April 18. The bank releases the funds for use on April 19. What is the length of the availability delay?


Definitions:

Marginal Benefit

The boost in enjoyment or value obtained when one more unit of a product or service is consumed or produced.

Economic Theory

A conceptual framework that explains economic processes, behaviors, and the interaction of economic agents, based on assumptions and predictions.

Illegal Immigrants

Individuals who enter or reside in a country without the proper authorization or documentation from the government.

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