Checks are cleared internationally by:
a. First, converting them into the home currency, and then sending them to the appropriate government office (e.g., the Department of Treasury).
b. Sending them to correspondent banks in the home-currency country and then clearing them through normal channels.
c. Sending them to correspondent banks in the home-currency country and then clearing them through "FITS" (i.e., the Foreign International Transfer Service).
d. Actually, checks are not cleared internationally. Rather, they are cleared in the country in which they are deposited.
e. Sending them to foreign central banks, where they are kept until the end of the year and then settled in bulk with foreign central banks.
.B
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Refute the claim by mercantilists who claimed that without severe restrictions on international trade and payments, a country might find itself impoverished and without an adequate supply of circulating monetary gold as a result of balance of
payments deficits.
Generally, expenses on a sport utility vehicle are a large part of a consumer's budget, so the demand for sport utility vehicles is more likely to be
A) elastic. B) inelastic. C) unit elastic. D) perfectly elastic.
Who did not find a colony?
a. Lord Baltimore b. Sir Nelson Maryland c. William Penn d. Roger Williams e. General James Oglethorpe
On which of the following assets are you most likely to earn interest income?
a. cash and currency b. checkable deposits c. money market deposit accounts d. gold and other precious metals e. All of the above are correct.