How Do Automated Teller Machines, Automated Clearinghouses, Point-Of-Sale Terminals, and Electronic

question 23

Essay

How do automated teller machines, automated clearinghouses, point-of-sale terminals, and electronic check conversion affect the way people bank and perform financial transactions?

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Definitions:

Government Budget Deficits

A situation where government expenditures exceed its revenues in a given fiscal period, leading to borrowing or spending cuts.

Exempting Interest

The act of not subjecting interest earnings to taxation under certain conditions.

Loanable Funds

This term refers to the funds available for borrowing in the economy, which includes savings and any capital available for lending to others for investment.

Taxation

The practice of a government collecting revenues from individuals and businesses to fund public services and infrastructure.