Three essential needs of a well-operating financial system include all of the following EXCEPT:
A)an efficient national payments system
B)an elastic or flexible money supply
C)a bank insurance system
D)a lending/borrowing mechanism

Question

Quizplus · Accepted Answer

While an efficient national payments system, an elastic or flexible money supply, and a lending/borrowing mechanism are all essential components of a well-operating financial system, a bank insurance system is not necessary. However, it can be helpful in promoting public trust and stability in the banking system.

Three Essential Needs of a Well-Operating Financial System Include All