A savings bank is a depository institution that ________
A) sells shares which it uses to purchase shares in U.S. Treasury bills
B) makes mostly home-purchase loans
C) is owned by a social or economic group
D) makes mostly consumer loans
B
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A constant-elasticity demand function can be obtained by:
A) taking the logarithm of the dependent variable only. B) taking the logarithm of the independent variable(s) only. C) taking the logarithm of the dependent and independent variable(s). D) taking the reciprocal of the dependent variable(s).
An increase in the real risk free interest rate causes its:
a. Aggregate demand to fall, the average price level to fall, and real GDP to rise. b. Aggregate supply to rise, the average price level to rise, and real GDP to rise. c. Aggregate demand to rise, the average price level to rise, and real GDP to rise. d. Aggregate supply to fall, the average price level to rise, and real GDP to fall. e. Aggregate demand to fall, the average price level to fall, and real GDP to fall.