Crucial elements of well-developed financial systems include all of the following except:
A) government control of the economy
B) financial intermediaries
C) Financial Markets: Characteristics and Types
D) an efficient monetary system

Question

Quizplus · Accepted Answer

Government control of the economy is not a crucial element of well-developed financial systems. While government regulation and oversight of financial systems can be important, an excessive level of government control can actually hinder the development of a robust and dynamic financial system. Financial intermediaries, financial markets, and an efficient monetary system are all crucial components of a well-developed financial system.

Crucial Elements of Well-Developed Financial Systems Include All of the Following