From A(n) _______ Approach, Consideration Is Defined as a Detriment

question 31

Multiple Choice

From a(n) _______ approach, consideration is defined as a detriment incurred by the promisee.

• A) charitable subscription.
• B) promissory estoppel.
• C) benefit-detriment.
• D) bargained-for-exchange.

---

Definitions:

Required Reserve Ratio

The proportion of depositors' balances banks must have on hand as cash, mandated by the central bank.

Excess Reserves

The reserves held by banks that are greater than the minimum amounts required by regulators, which can be lent out or invested.

Checkable Deposits

Bank account balances that can be withdrawn on demand using checks or electronic methods.

Money Supply

Refers to the total amount of money available in an economy at a particular point in time, including cash and deposits.