Sabrina is trying to decide between opening an account at a local commercial bank or at her college credit union. What TRUE statement about these two institutions will BEST influence her decision?

A.
Since commercial banks are for-profit, they can often keep their costs down, which translates into higher interest rates for savings and lower rates on loans.

B.
Since credit unions are for-profit, they can often keep their costs down, which translates into higher interest rates for savings and lower rates on loans.

C.
Since commercial banks are nonprofit, they can often keep their costs down, which translates into higher interest rates for savings and lower rates on loans.

D.
Since credit unions are nonprofit, they can often keep their costs down, which translates into higher interest rates for savings and lower rates on loans.

Answer:

D.

Since credit unions are nonprofit, they can often keep their costs down, which translates into higher interest rates for savings and lower rates on loans.

Explanation:

I just took the test and got it right

A commercial bank is a type of financial institution that accepts public deposits and grants borrowers loans for profit-making investments and consumption. Hence option C is correct .

To distinguish it from a retail bank and an investment bank, it can alsorefer to a bank, or a section of a big bank, that works with corporations or a large/middle-sized firm. Public and private sector banks are both considered commercial banks.

Commercial banks' primary responsibility is to offer financial services to individuals and businesses in order to promote social and economic stability and long-term economic growth.

They are nonprofit, member-owned cooperatives that offer discounts and other member perks in exchange for their profits. For college students, a credit unionoffer some of the lowest interest rates available for all types of loans and credit. Additionally, they provide free and affordable checking and savings accounts.

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# SPJ 2

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Labor arbitration: a. Is promulgated by the employer to resolve statutory claims. b. Gives the employer the dominant power. c. Allows the employer to unilaterally design the procedures and determines that disputes related to employment subjects will be resolved in arbitration. d. Provided for final resolution of disputes interrupting work that contributed to the war effort. e. The decision of the arbitrator involves interpretation and application of company-developed personnel policy or a public law.

Monopolies are inefficient compared to perfectly competitive firms because monopolies produce output with average total cost exceeding average revenue produce output with average total cost exceeding average revenue A produce more output than is social desirable produce more output than is social desirable B charge a price less than marginal revenue charge a price less than marginal revenue C charge a price greater than marginal cost charge a price greater than marginal cost D charge a price less than average total cost