Mark Sorenson Is the Managing Director of the British Division

question 150

Multiple Choice

Mark Sorenson is the managing director of the British division of Exide Technologies. He has the legitimate power and right to make decisions about how the division is run and to influence others to carry out these decisions. Which of the following does he have?

• A) empowerment
• B) a span of power
• C) functional power
• D) authority

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Definitions:

Total Reserves

The sum of a bank's deposits held at the central bank and the cash held in vaults.

Checkable Deposits

Refers to deposits in bank accounts from which individuals can write checks or use debit cards to make purchases directly.

Required Reserves

The minimum amount of funds that a bank must hold in reserve against deposits, as mandated by central banking regulations.

Money Supply

Refers to the total amount of money—cash, coins, and balances held in checking and savings accounts—available within an economy at a specific time.