Large Commercial Banks Are Considered to Be Market Makers Because

question 3

Multiple Choice

Large commercial banks are considered to be market makers because

• A) without them, there would be no foreign exchange market.
• B) they can easily manipulate the value of currencies in the foreign exchange market.
• C) they are willing to buy and sell major currencies at any time.
• D) they created the foreign exchange market.

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Definitions:

Office of Personnel Management

A U.S. federal agency that manages the civil service of the federal government, overseeing hiring and qualifications for government jobs.

Pendleton Act

A federal law enacted in 1883 that established that government jobs should be awarded based on merit rather than political affiliation, significantly reforming the civil service system in the United States.

Independent Executive Agencies

Agencies of the federal government that are not part of a cabinet department but report directly to the president, often tasked with more specific functions in administration, such as NASA or the EPA.

Social Security Administration

A U.S. government agency that administers social programs covering disability, retirement, and survivors' benefits.