ECON: MACRO4 (with CourseMate, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
4th Edition
ISBN: 9781285423623
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 13, Problem 2.7PA
To determine
A depository institution and its types. Role of depository institution, as intermediaries between savers and borrowers.
Concept Introduction:
Depository institutions are bank, building society, credit union, or other financial institution that solicits and accepts savings of the general public as demand deposits or time deposits, and pays a fixed or variable rate of interest.
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Chapter 13 Solutions
ECON: MACRO4 (with CourseMate, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
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Similar questions
- What is the financial market, what does it do in terms of saving investment and interest ratesarrow_forwardWhat is money for in terms of financesarrow_forwardIdentify which item is not one of the six parts of the financial system. Answer a. Credit cards b. Financial institutions c. Central banks d. Financial marketsarrow_forward
- Which of the following is true about banks? Select one: a. The interest rate banks charge when they lend is the same they pay for the deposits they receive. b. Banks are financial institutions through which savers can directly provide funds to borrowers. c. Typically, banks receive few but big deposits, which they then use to make many small loans. d. Through the checking accounts they facilitate, banks provide a medium of exchange.arrow_forwardWhich of the following is a personal financial asset? a. A payday loan b. A mortgage loan c. A savings account d. A credit card balancearrow_forwardwhat is a compensating balance and how does it affect the interest rate on a line of credit?arrow_forward
- what is a centeral bankarrow_forward1Money is created when A. a depositor deposits money at the bank. B. a bank grants a loan to a customer. C. someone lends money to a friend or a family member. D. people use money to pay for stuff they buy from one another.arrow_forwardWhat is a balance sheet? What is net worth?arrow_forward
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