________ Refers to Sums of Money (Equal to a Certain

question 37

Multiple Choice

________ refers to sums of money (equal to a certain percentage of their deposits) that banks are legally required to keep on hand.

• A) Securities
• B) Mortgages
• C) Reserves
• D) Savings
• E) Collaterals

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Definitions:

Total Output

Total output is the overall quantity of goods or services produced by a company, sector, or economy within a certain period.

Labor Cost

The total sum of all wages paid to employees, as well as the costs of employee benefits and payroll taxes paid by an employer.

Backflow

The reverse flow of water or other substances into the pipes of a potable water supply from any source other than its intended source.