about_chapter_16_for_quiz_2 - currency (M0) M1 M2 M3 Which...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
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:
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

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.)...
View Full Document

Ask a homework question - tutors are online