Which of the Following Types of Financial Institutions Is Required

question 54

Multiple Choice

Which of the following types of financial institutions is required to belong to the Federal Reserve System?

• A) national banks
• B) state-chartered banks
• C) savings and loan institutions
• D) credit unions

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Definitions:

Marginal Cost

The increase in total production costs that arises from producing an additional unit of a good or service.

Ideal

A concept or standard of perfection or excellence that serves as a benchmark or goal.

Price Takers

Entities in a market that accept prevailing prices for goods or services, lacking the market power to influence prices on their own.

Market

An abstract concept encompassing the forces of demand and supply and the interaction of buyers and sellers with the potential for exchange to occur.