Multiple Choice
Which of the following statements is false?
A) The federal funds rate is the interest rate at which a bank lends funds to another bank.
B) The federal funds rate is determined by the open market.
C) The federal funds rate is established on a semiannual basis by the board of governors of the Federal Reserve.
D) The discount rate is different from the federal funds rate.
E) The discount rate is the interest rate paid by a member bank to borrow funds from the Fed.
Correct Answer:
Verified
Correct Answer:
Verified
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