The Monetary Control Act of 1980

question 64

Multiple Choice

The Monetary Control Act of 1980:

• A) allowed savings and loan associations to offer checking accounts.
• B) allowed more institutions to offer checking account services.
• C) created greater competition among various financial institutions.
• D) all of the above.
• E) none of the above.

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Definitions:

Straight Line Depreciation

A strategy for dividing the cost of a material asset into equal yearly portions throughout its estimated useful duration.

Salvage Value

The estimated residual value of an asset after its useful life has ended.

Marriage Penalty

In the tax system, the phenomenon that a two-income married couple pays more tax than the sum of two single people making the same money.

Two-Income Married Couples

Households in which both spouses earn income from employment.