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Part III Short Problems (20 marks) Q1. As Ms. Sara prepares for her trip to London, she reviews a typical bank balance sheet. What types

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Part III Short Problems (20 marks) Q1. As Ms. Sara prepares for her trip to London, she reviews a typical bank balance sheet. What types of assets does a bank own, and what types of liabilities fund them? Answer: Q2. Explain why financial institutions such as banks are necessary in an economy

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