Money, Banking and the central Banking system
5 important questions on Money, Banking and the central Banking system
What are the 3 main roles of money in a modern economy, or the three requirements to be called money?
- Medium of exchange
- a store of value
- a unit of account
What do we call it when money is the commonly accepted measure individuals use to set prices and make economics calculations
What money aggregate or M1 is a major component of money supply?
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What are the three main tools that takes care of the stability of Canada's financial systems
- Depositor insurance,
- capital requirements,
- reserve requirements
Who decides how large the monetary base will be? What is that?
an institution that oversees and regulates the banking system and controls the monetary base
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