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Regarding the international payments process,which statement is TRUE?


A) In international trade, money will flow from the country with the strongest currency to that of the weakest.
B) The World Bank monitors the trade of its members to insure that money is flowing properly between the various countries.
C) The World Bank monitors the national banks of its members to insure that money is flowing properly between the various countries.
D) By international law, international trade must involve money flowing between two countries.
E) Money does not actually have to flow between two countries.

F) None of the above
G) A) and D)

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Gavin has asked one of aides to investigate whether the International Monetary Fund would be able to provide his district with a loan to foster international trade with the products made within his district.What would his aide MOST likely say?

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The IMF generally gives loans to nations...

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Money frees society from a system of barter.In doing so,money is performing which of the following functions?


A) store of value
B) measure of worth
C) unit of account
D) determination factor
E) medium of exchange

F) B) and E)
G) C) and D)

Correct Answer

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Through the Federal Deposit Insurance Corporation,a deposit in a member bank is currently insured up to $50,000.

A) True
B) False

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As the government's bank,the Fed produces the nation's paper currency and lends money to the government.

A) True
B) False

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Which of the following federal laws made transactions between banks significantly more efficient?


A) the Check Clearing for the 21st Century Act
B) the Bank Secrecy Act
C) the USA Patriot Act
D) the Federal Reserve Act
E) the Economic Emergency Recovery Act

F) C) and D)
G) D) and E)

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Which of the three functions of money does a time deposit account MOST exemplify?

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By definition,a time deposit account has...

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Which of the following has a fixed term?


A) demand deposits
B) time deposits
C) money market mutual funds
D) credit card accounts
E) savings accounts

F) C) and E)
G) B) and D)

Correct Answer

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