The Fed sometimes acts as a lender of last resort. This means that
a. individuals can borrow from the Fed when the President declares a national disaster
b. individuals can try to borrow money from the Fed if they are unable to borrow from a bank
c. banks can always go to the Fed for reserves in order to purchase more government bonds
d. banks can always go to the Fed for reserves to meet their obligations to depositors
e. business firms can try to borrow money from the Fed they are unable to borrow from a bank
D
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Historical evidence suggests that:
A) command economies perform better than free economies in the long run. B) free economies perform better than command economies in the long run. C) social surplus is maximized in a command economy. D) social surplus is minimized in a free economy.
Earnings usually reflect a person's productivity. What are factors that cause differences in productivity across people so that earnings differ too?
What will be an ideal response?