Which Act Set Uniform and Universal Reserve Requirements

question 24

Multiple Choice

Which act set uniform and universal reserve requirements?

• A)Depository Institutions Deregulation and Monetary Control Act (DIDMCA)
• B)the Community Reinvestment Act
• C)The Garn-St. Germain Act
• D)Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)

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Definitions:

Economic Growth

An increase in the production of economic goods and services, compared from one period of time to another, typically measured by GDP.

Less Developed Countries

Countries with a lower level of material wealth, economic activity, and quality of life, often characterized by low GDP per capita and human development indices.

Production Predominates

A condition where the manufacturing or creation of goods is the dominant economic activity in a particular area or sector.

Savings Rate

The percentage of income that is not spent on consumption but instead is saved or invested for future use.