Multiple Choice
Which of the following best describes the role of the Bank of Canada as the lender of last resort?
A) It lends money to people in localities not served by chartered banks.
B) It keeps the money supply from drying up during economic panics.
C) It provides mortgage money for the poor.
D) It lends money to developing nations whose own central banks have failed.
Correct Answer:
Verified
Correct Answer:
Verified
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