Seasonal credit provided by the Fed is not as common as it used to be because:
A. there are fewer banks in seasonal areas.
B. seasonal credit has been replaced by secondary credit.
C. other sources for long-term loans have developed for banks in seasonal areas.
D. seasonal credit is being replaced by primary credit.
Answer: C
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A severe freeze has once again damaged the Florida orange crop. The impact on the market for oranges will be a leftward shift in
a. demand as consumers try to economize because of the shortage. b. both the supply and demand curves. c. the supply curve. d. the supply curve and a rightward shift in the demand curve, which will result in a higher price.
How much the quantity of a good traded changes after a shift of the supply curve depends on
a. the size of the shift. b. the slope of the demand curve. c. whether the market is subject to price controls. d. All of the above are correct.