The Check Clearing for the 21st Century Act

question 54

Multiple Choice

The Check Clearing for the 21st Century Act:

• A)creates a new negotiable instrument.
• B)requires banks to accept checks in electronic form.
• C)requires banks to create image replacement documents for any checks received.
• D)All of these.

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Definitions:

Exploiting

Taking unfair advantage of a person, group, or situation for one's own benefit, often ethically or legally questionable.

Middle-Income DVCs

Developing countries that have achieved a certain level of GDP per capita, falling between low-income and high-income thresholds, if DVCs is taken to mean Developing Countries.

Farm Labor

The workforce engaged in agricultural activities, including planting, cultivating, and harvesting crops, as well as raising livestock.

Demographic Transition

The massive decline in birth rates that occurs once a developing country achieves higher standards of living because the perceived marginal cost of additional children begins to exceed the perceived marginal benefit.