Statement I: the Check Clearing for the 21^st Century Act

question 155

Multiple Choice

Statement I: The Check Clearing for the 21^st Century Act passed by Congress in 2004 with the intent to hasten the adoption of electronic check processing.
Statement II: The Fed performed its lender of last resort duty during the last major emergency after the terrorist attacks of 9/11 by lending over $45 billion to banks and thus avoiding a financial panic.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Self-Control

The capacity to manage one's feelings, ideas, and actions when confronted with desires and sudden urges.

Illicit Sex

Sexual activities that are considered illegal, socially unacceptable, or morally forbidden.

Sensation Seekers

Individuals who seek out experiences that are varied, novel, complex, and intense in order to achieve heightened states of arousal.

Smoke Cigarettes

The act of inhaling and exhaling the smoke produced by burning tobacco or other substances contained in cigarettes.