The Term ________ Refers to the Computer and Electronic Technology

question 58

Multiple Choice

The term ________ refers to the computer and electronic technology that makes it possible for banks to offer electronic payment and collection systems to bank customers.

• A) electronic protocols application software (EPAS)
• B) electronic funds transfer system (EFTS)
• C) originating depository financial institution (ODFI)
• D) open real-time currency application (ORCA)

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Definitions:

Technical Rate

The rate at which technological improvement increases production efficiency, often measured as a percentage increase in output per unit of input.

Variable Factors

inputs in production that can be adjusted in the short term, such as labor and raw materials, contrasted with fixed factors like machinery.

Production Function

An equation or graph showing how output changes with variations in input factors, holding all else constant.

Decreasing Marginal

In economics, a situation where each additional unit of input results in a smaller increase in output compared to previous units.