Class Notes (837,548)
Canada (510,312)
Economics (490)
ECON 310 (15)
David Cox (14)
Lecture 2

ECON 310 Lecture 2: Econ310F16 Lecture 2

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Department
Economics
Course
ECON 310
Professor
David Cox
Semester
Spring

Description
Chapter 3 What is Mon S normally accepted Whevt goods, services and securities allN sold and owhey debts are incurred or repaid at is used as many means of pay me medium of exchange Money financial in process money is generalized purehas power Moneta Systemy estellishes two 2a Unit of account in which prices are quoted rovides a Atea Coun of account. Currency or Cash of cou unit in Canada ills or coins denommabd in Chua dian dollars and stable Market value relative unit of account is alled Liguid A liquid secur IS a Securi Ana ket value of in of use it is hysical representation of of serves as a of value Stocks, bonds, real estate Chapter 3 What is Mon S normally accepted Whevt goods, services and securities allN sold and owhey debts are incurred or repaid at is used as many means of pay me medium of exchange Money financial in process money is generalized purehas power Moneta Systemy estellishes two 2a Unit of account in which prices are quoted rovides a Atea Coun of account. Currency or Cash of cou unit in Canada ills or coins denommabd in Chua dian dollars and stable Market value relative unit of account is alled Liguid A liquid secur IS a Securi Ana ket value of in of use it is hysical representation of of serves as a of value Stocks, bonds, real estate3-3 sture of value depends on rice level. Value Cor price and P price level Shange in change in P money rale. on Evoluton ent System Barrel a. Co Aamodihy money usual precious me ls like silver. 3 Curency backed by a promise of convertibility into amount of a commo Car typically Coma ties on occasion gold or silver banknotes Fat Ceunen Currency issued by a government promise. "intinsially useless pieces of pper Why do le a oods and ossible aus menus of pay me or laws y gruernments 3-3 sture of value depends on rice level. Value Cor price and P price level Shange in change in P money rale. on Evolut
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