The Funds Deposited in a Chequing Account Can Be Restricted

question 6

Multiple Choice

The funds deposited in a chequing account can be restricted for use by

• A)a holding period.
• B)outstanding cheques.
• C)interest earned.
• D)service charges.
• E)electronic banking.

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Definitions:

Price Ceiling

A price ceiling is a government-imposed limit on how high a price is charged for a product, with the aim of ensuring affordability by limiting how much prices can increase.

Quota Rent

The economic rent received by the holder of a production or import quota, which can be realized by selling the product at a higher price than the world price due to the quota limitation.

Taxi Medallion

A licensure medallion required for a taxi to operate legally in many cities, often representing a significant cost for taxi drivers and companies.

Missed Opportunity

A situation where a potential benefit or advantageous action is not taken, leading to a lost possibility.