Choose the Statement That Is Incorrect

question 52

Multiple Choice

Choose the statement that is incorrect.

• A)Fractional-reserve banking is a system in which banks keep a fraction of their depositors' funds as a cash reserve and lend the rest.
• B)Fractional-reserve banking was invented by gold prospectors in the Canadian Yukon during the gold rush.
• C)100 percent reserve banking is a system in which banks keep the full amount of their depositors' funds as a cash reserve.
• D)The requirement to hold 100 percent reserves lowers bank profits.
• E)The Austrian School of economists say that fractional-reserve banking violates property rights because the bank has no legal right to lend a deposit to someone else.

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Definitions:

Geometric Tolerance

A type of tolerance that defines the form, orientation, location, and runout of a feature on a part.

Permissible Variation

The allowable amount of deviation from a specified dimension, shape, or attribute of a material or component.

Orientation

The arrangement or positioning of something relative to a known point or direction.

Characteristic Symbol

A symbol or notation used to represent a specific property or characteristic in mathematical, scientific, or technical contexts.