Which of the Following Statements Is True of Wire Transfers

question 29

Multiple Choice

Which of the following statements is true of wire transfers?

• A)Article 4A,which covers wire transfers,includes consumer payments that are covered by EFTA.
• B)International wire transfer systems are known as " Fedwire."
• C)The Federal Reserve operates a domestic wire transfer system that can be made through CHIPS.
• D)Electronic funds transfers between business and financial institutions are generally referred to as wholesale wire transfers.

---

Definitions:

New Firms

Entrepreneurial ventures that have recently been established in the market.

Dominant Firms

Companies that hold a significant portion of market share within their industry, influencing market prices and competition.

Purely Competitive Markets

Markets characterized by many sellers offering identical products, leading to a high degree of competition and efficiency.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.