A Financial System's Primary Concern Is Funneling Money From

question 46

Multiple Choice

A financial system's primary concern is funneling money from:

• A) wealthy individuals to non-wealthy individuals.
• B) lender-savers to borrower-spenders.
• C) borrower-spenders to lender-savers.
• D) the government to wealthy individuals.

---

Definitions:

Bank

A financial institution licensed to receive deposits, offer loans, and provide various financial services to individuals and businesses.

Novation

The act of replacing an old contract with a new one, substituting a new party into an existing agreement.

Mortgage

A legal agreement by which a bank or creditor lends money at interest in exchange for taking title of the debtor's property, with a clause for voiding the agreement upon repayment.

Discharged

In legal terms, released or freed from an obligation, duty, or liability.