When You Open a Chequing Account at the Canadian Imperial

question 188

Multiple Choice

When you open a chequing account at the Canadian Imperial Bank of Commerce by making a deposit, the CIBC

• A)has more reserves and more excess reserves.
• B)has more reserves, but excess reserves remain unchanged.
• C)has more deposits and less in excess reserves.
• D)has more deposits, but excess reserves remain unchanged.
• E)has more reserves; but lower than desired reserves.

---

Definitions:

Recession

A significant decline in economic activity spread across the economy that lasts more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

Inflation

A general increase in prices and fall in the purchasing value of money, affecting economic conditions.

Values

Core beliefs or standards that guide and motivate attitudes and actions in individuals and organizations.

Organizational Culture

The shared values, beliefs, practices, and norms that define an organization's social and psychological environment.