Answer:
1. The Gold Standard Act of 1900 ended the standard known as
- bimetallism
2. Which of the following describes the practice of fractional-reserve banking?
- A bank loans a percentage of every depositor's funds to borrowers.
3. Which of the following is a 20th-century banking development that allows an individual to transfer funds from a checkable deposit directly to a vendor for payment?
- debit card
4. What is a tariff?
- A tax on an import from another country.
5. Two countries just established a free-trade agreement. The CEO of a ultra high-quality competition bicycle manufacturer notices that there is only one other firm in the country that manufacturers competition-ready bicycles. His firm prices its bicycles below the cost of production of the other firm, driving the other firm out of business. The CEO then raises the price of his bicycles now that there is no competition. Classify the situation described.
- This situation represents dumping.
Explanation:
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The Third option is Correct. Debit Card is a 20th Century banking development.
The History of debit card can goes back to the year 1966 when Bank of Delaware developed Debit Card. After that it came into use in every Banking system. The aim of introducing Debit Card was to transfer funds directly to a vendor.
Now, at present it is used for many different purposes like withdrawal of money, transfer of money, and making online payment. Therefore, the answer is Debit Card.
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