The Fed is often considered the bankers' bank because it:
a. demands much more currency than it has available.
b. no longer has a monopoly on printing paper currency.
c. lowers the discount rate in order to restrict the money supply.
d. holds bankers reserves, provides banks with currency and loans, and clears their checks.
e. refuses to uses its power of open market operations when a quorum of state-chartered bankers petitions it.
d
You might also like to view...
The dollar value of final output
A) is equal to total income. B) is less than total income. C) equals profits. D) is greater than total income.
One characteristic of a public good is that it
A) is available for consumption by only a few individuals at any particular time. B) always eliminates the free-rider problem. C) can be consumed simultaneously by many individuals. D) can be easily subdivided into small units.