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10 Cards in this Set
- Front
- Back
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Which of the following is not a function of money
a)a medium of exchange b)avoid liquidity c)a stored value d)unit of account |
b)
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What is a unit of account?
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a standard unit where the prices are stated and value of G+S can be compared
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What does M2 include?
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currency, demand deposits, near monies, and saving and term deposits
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What are two things M2++ includes that M2+ does not?
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savings bonds and non market money funds
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What is a legal tender?
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anything that government says must be accepted in exchange for goods and services
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Who is paper money a debt to?
a)bank of canada b)chartered banks c)goverment d)all of them |
a)
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What are three ways money derives its value?
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through acceptableness ,being a legal tender and from its scarcity
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What is a financial intermediary?
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businesses using fund deposits to make loans
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What is the prime rate?
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interest rate charged to the most creditworthy businesses
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Which is not a recent development of banks?
a)globalized trade b)ATM machines c)electronic money d)making love |
b)
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