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Although There Are No Legal Minimum Balances for a NOW

question 173

True/False

Although there are no legal minimum balances for a NOW account,many institutions impose their own requirement,often between $500 and $1,000 before they pay any interest.


Definitions:

Production Possibilities Curve

A graph that shows the various combinations of goods and services that an economy can produce given its resources and technology.

Capacity Utilization

The percentage of a firm's or nation's total production capacity that is actually being used over a specific time period.

Passive Resource

A passive resource refers to an economic asset that requires no active management or labor input to generate income or value.

Capital

Assets or resources that are used to generate income or make an investment, including buildings, machinery, and equipment.

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