The Interest Rate at Which Chartered Banks Can Borrow from the Bank

question 104

Multiple Choice

The interest rate at which chartered banks can borrow from the Bank of Canada is the

• A) preferred rate.
• B) prime rate.
• C) prime plus 1 percent.
• D) bond rate.
• E) bank rate.

---

Definitions:

Compact Automobiles

Smaller-sized cars that are more efficient in fuel consumption and easier to park, usually seating four to five passengers.

Mean

The average of a set of numerical values, calculated by summing them together and dividing by the number of values.

Median

The middle value in a data set, which separates the higher half from the lower half of the dataset.

National Football League

A professional American football league consisting of 32 teams, divided equally between the National Football Conference (NFC) and the American Football Conference (AFC).