Which of the following is not correct?
A)By saving a larger portion of its GDP,a country can raise its output per worker.
B)Savers supply their money to the financial system with the expectation that they will get it back with a return at a later date.
C)Financial intermediaries are the only type of financial institution.
D)The financial system helps match people's saving with other people's borrowing.

Question

Quizplus · Accepted Answer

This statement is incorrect as there are various types of financial institutions such as banks, credit unions, insurance companies, investment firms, etc. Financial intermediaries are just one type of financial institution that facilitate transactions between savers and borrowers.

Which of the Following Is Not Correct