What are the institutions that make up the nation's banking system?
What will be an ideal response?
Part of the nation's banking system is the Federal Reserve System. The other part consists of the banks and other institutions that accept deposits and that provide the services that enable people and businesses to make and receive payments. There are three general types of financial institutions: commercial banks, thrift institutions, and money market funds.
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Frictional unemployment refers to:
a. unemployment related to the ups and downs of the business cycle. b. workers who are between jobs. c. people who spend relatively long periods out of work. d. people who are out of work and have no job skills.
In year 1 the price of good X is $10 and 100 units are bought and sold. In year 2 the price of good X is $13 and 230 units are bought and sold. What can explain this?
A) The supply of good X was higher in year 2 than in year 1 and the demand for good X was the same in year 2 as in year 1. B) The demand for good X was higher in year 2 than in year 1 and the supply of good X was the same in year 2 as in year 1. C) Both the demand for, and supply of, good X were higher in year 2 than in year 1. D) b or c E) a, b, or c