"Bit" Is Short for Binary Digit

question 3

True/False

"Bit" is short for binary digit.

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Definitions:

Borrower

An individual, corporation, or other entity that receives funds from another party under the condition of returning the funds plus interest or other charges at a later date.

Lender

A financial institution or individual that provides funds to a borrower under the condition that the funds will be repaid with interest.

Supply

The aggregate sum of a good or service ready for sale at a specific price level.

Loanable Funds

The money available for borrowing in the financial markets, determined by saving behaviors and institutional lenders' policies.