International Law Is Based on Tradition, Custom, and Formal Agreements

question 6

True/False

International law is based on tradition, custom, and formal agreements between nations.

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Definitions:

Central Bank

The main financial institution of a country, which regulates the money supply and interest rates and oversees the banking system.

1913

A year notable for several key historical events, including the ratification of the 16th Amendment to the U.S. Constitution, introducing the federal income tax.

Excess Reserves

Banks' reserves that exceed the minimum reserve requirements set by central banking authorities, indicating additional liquidity.

Actual Reserves

The total amount of funds that a bank has held in reserve, both required and excess, to meet its liabilities.