Since 2010, the Interest Rate on Passbook Accounts and Certificates

question 43

Multiple Choice

Since 2010, the interest rate on passbook accounts and certificates of deposit has

• A)been less than the rate of inflation.
• B)has closely tracked the rate of inflation.
• C)exceeded the rate of inflation by 1.5% on average.
• D)fluctuated widely.

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Definitions:

Remittances

Money sent by individuals working abroad back to their home countries, contributing to the economy.

Developed Countries

Nations with advanced industrial bases, high levels of income per capita, and varied economies, often characterized by stable governments and well-established infrastructures.

Capital Flight

The tendency for both human capital and financial capital to leave developing countries in search of higher expected rates of return elsewhere with less risk.

Remittances

Funds sent by individuals working abroad to people in their home country.