Answer:
6. C Devalue
7. D. Commercial bank
8. D. The Federal Reserve
9. D. Mutual funds
10. B. it is light and easy to handle
Explanation:
6. Devaluation of currency is the deliberate reduction (by the monetary authorities) in the value of a domestic currency vis-a-vis foreign currencies. What this does is that it make export goods cheaper and import goods more expensive. It is foreign exchange policy implemented when the government wants to increase export and reduce import thereby correcting her balance of payment position. Balance of payment is the monetary record of a country's transaction with the rest of the world. It is unfavourable when import value exceed export value.
2. A commercial bank accepts deposit from the public and uses these deposits to earn profit by giving out loans on interest. It is state or federal chartered because it is authorized to carry out these activities. Credit Union is a non-profit making organisation.
8. The Federal Reserve is the apex bank in a country. It is responsible for designing monetary policies and regulating the activities of other banks in the country. Thus, it also referred to as central bank
9. Mutual funds are companies that bring together money or investments from people and invest these pooled resources. These pooled resources can be invested in bonds, stocks, other financial assets etc collectively regarded as portfolio.
10. The portability characteristics of money means that money can be moved from place to place during transactions. It can be easily carried, light and easy to handle.
