Time Deposits Require the Depositor to Keep the Money at the Bank

question 104

True/False

Time deposits require the depositor to keep the money at the bank for a certain amount of time or else lose interest. They are therefore not as liquid as checking deposits, but it is normally possible to withdraw funds from them.

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Definitions:

Groupthink

A psychological phenomenon that occurs within a group of people in which the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome.

Strong-minded Leader

A leader who possesses unwavering determination, confidence, and the ability to stick to their principles and decisions, even under pressure.

Cohesive Groups

Teams or collectives characterized by strong bonds among members, leading to a high level of loyalty, unity, and commitment towards the group's objectives.

Groupthink

A psychological phenomenon in highly cohesive groups, where the desire for harmony and conformity results in irrational or dysfunctional decision-making outcomes.