As a Result of the Monetary Control Act of 1980

question 41

Multiple Choice

As a result of the Monetary Control Act of 1980:

• A) there was less competition among various financial institutions.
• B) fewer institutions were permitted to offer checking account services.
• C) savings and loan associations were restricted to offering long-term loans.
• D) savings and loans paid higher interest rates on short-term deposits to compete for customers.

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Definitions:

Maximum Average

A statistical measure aimed at finding the highest average level in a set of values or data points, commonly used in various fields of research and analysis.

Proof Of Age

is an official document or form of identification that verifies a person’s date of birth, often required for activities with age restrictions.

Oldest-Known

Descriptive term for the earliest recorded instance or example of something in history or archaeology.

Died

The cessation of all biological functions that sustain a living organism.