5 good questions and answers: "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 
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What do we call it when money is the commonly accepted measure individuals use to set prices and make economics calculations
It is called the unit of account
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What money aggregate or M1 is a major component of money supply?
Bank deposits
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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
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Who decides how large the monetary base will be? What is that?
The central bank
an institution that oversees and regulates the banking system and controls the monetary base
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