Three Essential Needs of a Well-Operating Financial System Include All

question 117

Multiple Choice

Three essential needs of a well-operating financial system include all of the following EXCEPT:

• A)an efficient national payments system
• B)an elastic or flexible money supply
• C)a bank insurance system
• D)a lending/borrowing mechanism

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Definitions:

Tenants By The Entirety

A form of joint property ownership reserved for married couples, where each owns the entire property and upon one's death, the other becomes the sole owner.

Inheritance Interest

The stake or claim that an individual has in the property or estate of a deceased person.

Claim

A demand for something as due or owed, typically a request for money, property, or rights from a party believed to be liable.

Form Of Ownership

The legal structure that defines the ownership of a firm or asset, such as sole proprietorship, partnership, or corporation.