Which of the Following Statements Is Most Correct

question 53

Multiple Choice

Which of the following statements is most correct?

• A) All banks are financial intermediaries, but not all financial intermediaries are banks.
• B) Financial intermediaries must be public corporations.
• C) All financial intermediaries are insurance companies.
• D) Financial intermediaries are government agencies.

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Definitions:

Inelastic Demand

A market situation where the demand for a product does not significantly change with a change in price.

Total Expenditures

The combined amount of money spent by an individual, organization, or government over a specific period of time.

Inelastic Demand

A market situation where the demand for a product does not significantly change in response to changes in price, often applicable to necessities or products with few substitutes.

Board of Regents

An administrative body that governs institutions of higher education, overseeing budgetary matters, academic policies, and major appointments.