The main role of financial intermediaries is to
A) provide funds to the federal government to cover the budget deficit.
B) borrow funds from savers and lend them to borrowers.
C) provide advice to consumers on how they should handle their finances.
D) help ensure that there is enough money in circulation.
B
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When Annie puts her money in her sock drawer for purchases later on, money is acting as a
A) unit of accounting. B) standard of deferred payment. C) store of value. D) medium of exchange.
Dan missed class the day the professor covered the circular flow model. Dan asked his friend Joan to explain markets to him. Joan correctly stated that a market
A) must have many buyers and only one seller, who is willing to sell to all the buyers. B) is only a place to purchase groceries. C) requires a physical location for buyers and sellers to get together. D) must include a written contract between buyers and sellers. E) is any arrangement that brings buyers and sellers together.