Multiple Choice
Whatever functions as money must be _____.
A) authorized by the government
B) accepted as deposit by banks
C) backed by precious metals like gold or silver
D) completely indestructible
E) limited in supply
Correct Answer:
Verified
Correct Answer:
Verified
Q103: Insurance that protects individuals from the loss
Q104: The Federal Reserve provides gold in exchange
Q105: The tendency of bankers to take unwarranted
Q106: The Board of Governors of the Fed
Q107: Some financial institutions are classified as depository
Q109: Interest-rate ceilings on deposits:<br>A)meant banks were guaranteed
Q110: One purpose of interest-rate ceilings was to:<br>A)establish
Q111: What activity does the Fed undertake when
Q112: Financial institutions are known as financial intermediaries
Q113: Banks earn a profit by offering loans