The Federal Reserve System first began operations in:

Which of the following is a role of a financial intermediary?

a. Increasing risk to lenders b. Combining a large number of loans of small borrowers into a small number of deposits of large savers c. Decreasing liquidity for savers d. Reducing risk to depositors e. Increasing interest rates for both borrowers and lenders

Suppose the cost of flying a 100-seat plane for an airline is $50,000 and there are 10 empty seats on a flight. The average cost per seat is

a. $50. b. $500. c. $50,000. d. This cannot be determined from the information given.