Answer:moral obligation consist in facts about the intentional states of agents, while legal obligation is grounded on coercive institutional facts, which are external to the agents' intentionality.
Explanation:
The fact that the Fed is the "lender of last resort" means that it grants loans to banks when they experience financial difficulty which threaten their collapse.
<h3 /><h3>What does a lender of last resort do?</h3>
When banks are going through financial difficulty that is bad enough to threaten their existence, they will turn to the Fed.
This is because the Fed is considered the lender of last resort and loans money to banks to prevent a system collapse. They only step in however, whn things are bad.
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All states had to agree before a law was passed. Each state's vote was not equal, so there was too much disagreement. Citizens didn't always let their states know how they wanted them to vote.
Imposition of rules by government backed by the use of penalties that are intended specifically to modify the economic behavior of individuals and firms in the private sector.
<u>Explanation</u>:
- An imposition of rules by the government to modify the individual's economic behavior and in the private sector firm known as regulation. Prices, output, rate of return, disclosure of information, standards and ownership ceilings are among those frequently used.
- One is to increase efficiency and maintain potential market power or avoid duplication. In the case of professional services, to protect consumers and maintain quality and protect consumers.
