Ask Question
22 August, 02:16

The primary purpose of the legal reserve requirement is toa. Prevent banks from hoarding too much vault cash. b. Provide a means by which the monetary authorities can influence the lending ability of commercial banks. c. Prevent commercial banks from earning excess profits. d. Provide a dependable source of interest income for commercial banks.

+5
Answers (1)
  1. 22 August, 05:45
    0
    Answer: The correct answer is choice b.

    Explanation: The primary purpose of the legal reserve requirement is to provide a means by which the monetary authorities can influence the lending ability of commercial banks. Basically, it is the Federal Reserve's way of controlling the money supply.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The primary purpose of the legal reserve requirement is toa. Prevent banks from hoarding too much vault cash. b. Provide a means by which ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers