Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter13: Capital, Interest, Entrepreneurship, And Corporate Finance
Section: Chapter Questions
Problem 2QFR
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Question
define and explain the importance of lender of last resort
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Step 1
Answer:
Definition:
Lender of last resort: it is the institution (generally central bank of a country) which provide liquidity to other financial institutions that face financial crisis and fail to meet their financial requirements from other sources
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