When the Fed Acts as a "Lender of Last Resort

question 159

Multiple Choice

When the Fed acts as a "lender of last resort," as it did in the financial crisis of 2007-2008, it is performing its role of

• A) controlling the money supply.
• B) setting the reserve requirements.
• C) being a bankers' bank.
• D) providing for check clearing and collection.

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Definitions:

Ethnic Group

A community or population made up of people who share a common cultural background, ancestry, or national origin.

Cultural Beliefs

The shared beliefs, values, and practices that are learned from society or a community and influence an individual's actions and decisions.

Racial Culture

The shared beliefs, practices, and customs associated with a particular racial or ethnic group.

Multicultural

Relating to, or constituting several cultural or ethnic groups within a society.