In Comparing an MMDA to a NOW Account,the MMDA Does

question 76

Multiple Choice

In comparing an MMDA to a NOW account,the MMDA does all of the following except

• A)it pays a higher interest rate.
• B)MMDA accounts are less liquid.
• C)it provides more limited checking services.
• D)MMDA accounts must maintain a larger balance.

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Definitions:

Differentiation

In sociology, differentiation refers to the process by which institutions and social processes become increasingly specialized and distinct from one another in modern societies.

Latency

A phase or period of inactivity or dormancy where underlying processes are not yet visible or are developing below the surface.

Pattern Maintenance

The process of preserving social systems and structures through the perpetuation of norms, values, and rituals.

Imperative

Something that is considered absolutely necessary or obligatory; a command or principle that must be followed.