Savings Banks

question 46

Multiple Choice

Savings banks

• A) were first established in Scotland and England.
• B) were established to encourage saving by the poor.
• C) were very conservative with their funds, placing most of them in commercial banks.
• D) are all of the above.
• E) are only A and B of the above.

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Definitions:

Supply Curve

A chart that illustrates the amount of a product that suppliers are prepared to produce and sell at various price points.

Save More

The action of increasing the amount of money set aside for future use or as a precaution against emergencies or major purchases.

Tax Credit

A tax incentive which allows taxpayers to subtract the amount of the credit from the total they owe to the state.

Loanable Funds

Money available for lending and borrowing, determined by the supply of savings and demand for loans.