50. Which of the following best illustrates the medium of exchange function of money? O A….
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Question “50. Which of the following best illustrates the medium of exchange function of money? O A….”
Answer
50) c You pay for your double latte with currency (in this instance, currency acts as an instrument to facilitate trade and signifies the medium of the exchange function of money).
51) b. currency, stocks, and fine art (since currency can be converted into medium of exchange with great ease, whereas fine arts are considered relatively liquid).
52) b. The Bank of Canada (it is responsible for monetary policy formulation and regulation and bank services for the federal government).
53) c) reserve ratio = 7% , deposits =$2000 required reserve =( reserve ratio x bank deposits)/100
= (7*2000)/100 = 140
Conclusion
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