When banks operate to match savers and borrowers to increase the efficiency of financial markets, their role is known as
A) financial intermediary.
B) lender of the last resort.
C) financial market regulator.
D) central bank.
A
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In 1910 _____________ of children between the ages of 10 and 15 had jobs, but by 1920, this percentage had fallen to ____________
a. 50 percent; 25 percent b. 30 percent; 20 percent c. 20 percent; less than 10 percent d. 10 percent; less than 1 percent
The average work week in the United States has declined to fewer than 40 hours even though wage rates have been increasing. The best explanation of this phenomenon is that
a. the labor supply curve shifted to the right b. the labor demand curve shifted to the right c. the income effect of rising wages outweighed the substitution effect d. the income effect of rising wages could not outweigh the substitution effect e. none of the above
The price system
A. sends signals to producers. B. sends signals to consumers. C. is based on supply and demand. D. All of the choices are true about the price system.
Use the following table to answer the next question.Current AccountFinancial AccountCapital Account-$753,438 $30,696This country has a ________.
A. deficit in the financial account B. trade surplus C. surplus in the financial account D. deficit in the capital account