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Question Three (20 Marks) a. Based on the functions of the banking system, give reasons why governments bail outbanksduringaneconomiccrisis? [Notmorethanone-page](10Marks) b. Is the World heading

Question Three (20 Marks)

a. Based on the functions of the banking system, give reasons why governments bail outbanksduringaneconomiccrisis? [Notmorethanone-page](10Marks)

b. Is the World heading for a recession? Explain the conditions under which the world can be classified as being in a recession as COVID-19 persists. Explain linking the pandemic to the various stages of a recession. [Not more than one-page] (10 Marks)

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