about_chapter_16_for_quiz_2 - currency(M0 • M1 • M2 •...

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Chapter 16 Topics for quiz 2: money money’s three functions medium of exchange unite of account store of value three types of money commodity money commodity-back money fiat money What is money supply? In this class, what does money supply include? Money supply has different measurements:
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Unformatted text preview: currency (M0) • M1 • M2 • M3 Which has the highest liquidity? Which is most broad? Central banks functions banks reserve • required reserve • excess reserve How do commercial banks make money? What is T account? (Know how to use T account to record a transaction.)...
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