Currently,international Reserve Assets Are Comprised of

question 17

Multiple Choice

Currently,international reserve assets are comprised of

• A)gold,platinum,foreign exchanges,and special drawing rights (SDRs).
• B)gold,foreign exchanges,special drawing rights (SDRs),and reserve positions in the International Monetary Fund (IMF).
• C)gold,diamonds,foreign exchanges,and special drawing rights (SDRs).
• D)reserve positions in the International Monetary Fund (IMF),only.

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Definitions:

Debt

An amount of money borrowed by one party from another, often for making large purchases that they could not afford under normal circumstances, which needs to be paid back.

FICA

Federal Insurance Contributions Act; a United States federal payroll tax imposed on both employees and employers to fund Social Security and Medicare.

Federal Income Taxes

Taxes imposed by the federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.

Form 941

A U.S. tax form used by employers to report quarterly federal payroll taxes.