________ Systems Take Inputs from the External Environment, Transform Some

question 30

Short Answer

________ systems take inputs from the external environment, transform some of these inputs, and send them back into the environment as outputs.

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Definitions:

Demand Deposits

Bank accounts from which money can be withdrawn at any time without any notice to the institution.

Time Deposits

Banking or financial instruments that require the holder to keep the money deposited for a fixed term or period of time, often offering higher interest rates than savings accounts.

Federal Reserve Banks

A system of 12 banks in the United States that serve as the central banking system, responsible for implementing monetary policy, regulating banks, and ensuring the stability of the financial system.

Money Supply

The total amount of monetary assets available in an economy at a specific time, including cash, bank deposits, and liquid assets held by the public.