The Depository Institutions Deregulation and Monetary Control Act of 1980

question 25

Multiple Choice

The Depository Institutions Deregulation and Monetary Control Act of 1980

• A) approved NOW accounts nationwide.
• B) imposed uniform reserve requirements.
• C) mandated the phase out of interest-rate ceilings on deposits.
• D) did all of the above.
• E) did only A and B of the above.

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Definitions:

Interest Rate

The amount charged by a lender to a borrower for the use of assets, expressed as a percentage of the principal, typically over a one-year period.

Investment

The act of spending money with the expectation of obtaining an additional income or profit, often involving financial investments, purchasing assets, or funding new business ventures.

Saving Incentives

Financial or regulatory measures designed to encourage individuals or businesses to save more money.

Interest Rate

This represents the percentage of the principal that lenders charge borrowers for the access to assets.