Refer to the Table Above

question 119

Multiple Choice

Refer to the table above. If a bank has $60 million in savings deposits and $40 million in checkable deposits, then its required reserves are:

• A) $30 million
• B) $3 million
• C) $1.8 million
• D) $1.2 million

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Definitions:

Civil Matters

Legal issues and disputes that involve private rights and relationships between individuals or organizations, rather than criminal offenses.

Federal Court

A court established by the federal government that has jurisdiction over cases involving federal laws, interstate matters, or other cases as defined by the constitution or federal legislation.

Provincial Cabinet

Executive branch of a provincial government in countries with a federal structure, responsible for enacting policy and administering public services at the provincial level.

Federal Government

The national government of a federal country, which has certain powers at a national level over all its constituent states or provinces.