One of the reasons primary credit exists is to:
A. provide banks with a low interest source for long-term capital.
B. provide banks with an available source for unsecured lending.
C. bail out banks which are in financial trouble.
D. provide additional reserves when the open market staff's forecasts are off.
Answer: D
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Marginal revenue for a price taker is
A) equal to price. B) less than price. C) more than price. D) unrelated to price.
Which of the following is most likely a quote from the economist John Maynard Keynes?
a. “[Economics] is a doctrine rather than a method, an apparatus of the mind, a technique of thinking, which helps its possessor to draw correct conclusions.” b. “[Economics] is neither a method nor a doctrine, an apparatus of the mind, a technique of thinking, which helps its possessor to draw correct conclusions.” c. “[Economics] is a method rather than a doctrine, an apparatus of the mind, a technique of thinking, which helps its possessor to draw correct conclusions.” d. “[Economics] is both a method and a doctrine, an apparatus of the mind, a technique of thinking, which helps its possessor to draw correct conclusions.”