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MindTap Economics, 1 Term (6 Months) Printed Access Card for Mceachern's ECON MACRO, 6th
6th Edition
ISBN: 9781337915595
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 13, Problem 7P
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
MindTap Economics, 1 Term (6 Months) Printed Access Card for Mceachern's ECON MACRO, 6th
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- Identify 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_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_forwardWhich 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_forward
- What about the second part of the problem that has to deal with the bank loan?arrow_forwardOne of the biggest problems for any economy is to figure out how to get or transfer money from people or firms who want to save (savers) to people or firms who want to borrow (investors). Explain how financial markets can help to solve this problem efficiently. Discuss how financial markets function and which tools they can offer to solve this problem. Discuss how financial systems are of crucial significance to adequate capital formation, which is indispensable to a speedy economic growth and development.arrow_forwardwhat is a compensating balance and how does it affect the interest rate on a line of credit?arrow_forward
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