Which of the Following Institutions Is Not Part of the Modern

question 56

Multiple Choice

Which of the following institutions is not part of the modern banking system?

• A)credit unions
• B)savings and loan associations
• C)mutual funds
• D)mutual savings banks

---

Definitions:

Seller

An individual or entity that offers goods or services for sale.

Tax

is a compulsory financial charge or some other type of levy imposed on a taxpayer by a government organization in order to fund government spending and various public expenditures.

Elasticity

A measure of how much the quantity demanded or supplied of a good changes in response to a change in price or other economic variable.

Buyer

A person or entity that purchases goods or services from another in exchange for money.