In Most Developed Economies,unemployment Insurance Benefits

question 16

Multiple Choice

In most developed economies,unemployment insurance benefits

• A) are nonexistent
• B) paid for by insurance companies
• C) initially replace 100% of lost wages
• D) replace an increasing percentage of lost earnings as the duration of unemployment becomes prolonged
• E) become less generous as the duration of unemployment is prolonged

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Definitions:

Nonlocal Check

A check written on an account at a bank which is located outside the local check-processing region of the bank at which it is deposited.

Depositary Bank

A financial institution that holds and manages securities deposits and facilitates trading of these financial assets.

Drawee Bank

Drawee bank refers to the bank upon which a check or draft is drawn, responsible for paying the specified amount of money to the entity presenting the check for payment.

Payor Bank

A bank that is responsible for paying the check or draft drawn on the funds deposited in an account.