The US Banking System Is Considered to Be a Dual System

question 34

Multiple Choice

The U.S. banking system is considered to be a dual system because ________.

• A) banks offer both chequing and savings accounts
• B) it actually includes both banks and thrift institutions
• C) it is regulated by both state and federal governments
• D) it was established before the Civil War, requiring separate regulatory bodies for the North and South

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Definitions:

Social Welfare

Programs and policies designed to enhance the well-being of individuals and communities, often through provision of health, education, and financial support.

Banned Advertising

Advertising that is prohibited by law due to being misleading, promoting harmful products, or being offensive.

Monopolistically Competitive

This term refers to market structures where many firms sell products that are similar but not identical, allowing for some degree of market power and product differentiation.

Externalities

Economic side effects or consequences that affect uninvolved third parties; can be positive or negative.