Suppose You Have $10,000 in Your Chequing Account

question 115

Multiple Choice

Suppose you have $10,000 in your chequing account.You write a cheque for $2,000 and deposit $3,000.What is your collection float?

• A)-$2,000
• B)-$3,000
• C)-$7,000
• D)-$8,000

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Definitions:

Macropolicy

Broad, large-scale government policies aimed at managing and improving the overall economy.

Conventional Monetary Policy

Monetary policy actions involving the adjusting of the policy interest rate to influence economic conditions such as inflation and growth.

Monetary Growth

The increase in the money supply in an economy over a period of time, which can affect inflation, interest rates, and economic growth.

Budget Surpluses

Occurs when a government, company, or individual receives more income than it spends over a specified period, leading to excess funds.