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? Q2. Explain why financial...

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?

Q2. Explain why financial institutions such as banks are necessary in an economy.