What functions of the financial system of markets and institutions do the following transactions illustrate or represent? (Note: Some transactions may involve more than one function. Be sure to identify all the financial system functions involved in each transaction.)
a. James Rhodes purchases health and accident insurance policies through the company where he works.
b. Sharon MacArthur uses her credit card to purchase wallpaper for a home remodeling project.
c. Fearing a slowdown in the rate of economic growth and increased joblessness, the Federal Reserve System and the Bank of England move to lower interest rates.

Question

What functions of the financial system of markets and institutions do the following transactions illustrate or represent? (Note: Some transactions may involve more than one function. Be sure to identify all the financial system functions involved in each transaction.)
a. James Rhodes purchases health and accident insurance policies through the company where he works. 
b. Sharon MacArthur uses her credit card to purchase wallpaper for a home remodeling project. 
c. Fearing a slowdown in the rate of economic growth and increased joblessness, the Federal Reserve System and the Bank of England move to lower interest rates.

Quizplus · Accepted Answer

The Answer of What functions of the financial system of markets and institutions do the following transactions illustrate or represent? (Note: Some transactions may involve more than one function. Be sure to identify all the financial system functions involved in each transaction.)
a. James Rhodes purchases health and accident insurance policies through the company where he works. 
b. Sharon MacArthur uses her credit card to purchase wallpaper for a home remodeling project. 
c. Fearing a slowdown in the rate of economic growth and increased joblessness, the Federal Reserve System and the Bank of England move to lower interest rates.

What Functions of the Financial System of Markets and Institutions