Check Clearing Falls Under Which of Following Fed Functions

question 19

Multiple Choice

Check clearing falls under which of following Fed functions?

• A)Supervising and regulating the financial system
• B)Serving as a fiscal agent of the government
• C)Maintaining and developing the payments system
• D)Conducting monetary policy

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Definitions:

Reciprocity

A social norm that involves mutual exchange of privileges, goods, services, or favors between individuals or groups.

Altruism

Selfless concern for the well-being of others, often leading to actions benefitting someone other than oneself.

Equity

The principle of fairness or justice in the way people are treated, including the distribution of resources or treatment based on needs and merits.

Over Benefited

A condition in which an individual perceives receiving more from a relationship or exchange than they contribute to it.