The Competitive Equality Banking Act

question 3

Multiple Choice

The Competitive Equality Banking Act:

• A) allowed intermediary banks to become clearinghouses.
• B) includes a requirement that collecting banks give provisional credit to its subagents.
• C) has expedited the availability of funds.
• D) None of these.

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Definitions:

Income Subsidies

Financial assistance provided by the government to individuals or groups to help support their income and reduce economic inequality.

Farm Policies

Government rules and programs designed to support farmers, influence agricultural production, stabilize prices, and ensure food security.

Economic Problem

The issue of limited resources with unlimited wants, necessitating choices about what and how to produce for society.

Crop Insurance Programs

Governmental or private insurance schemes designed to protect farmers against the financial losses due to crop failures caused by weather or other unforeseen factors.