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2
How do we know the Fed is the Central bank (5 functions)?
1. lender of last resort
2. clearinghouse
3. fiscal agent for the federal government
4. exercises macroeconomic policy
5. serves as a bankers' bank
2. clearinghouse
3. fiscal agent for the federal government
4. exercises macroeconomic policy
5. serves as a bankers' bank
Flashcard info:
Author: savhighsmith
Main topic: Economics
Topic: History of Economics
School / Univ.: UGA
City: Athens
Published: 15.11.2010