PO370 Lecture Notes - Lecture 21: Epistle To The Philippians, Canadian Dollar, None Of The Above
Document Summary
Some currencies get used internationally but the number is not actually all that big. Most currencies are not used outside of their own country. Means of exchange: you hand money over at a store its way of handing things over. Internationally, money is used to do things to pay for imports, investments, tourists . Store of value: way of hanging onto a set of claims on the rest of the world. You get payed a salary today, put it in the bank, and 3 years later it will be there. International affairs: used a store of value by governments in foreign exchange reserves. They have assets and holdings in other currencies. In businesses you can look at their bank accounts, and government debt (ioy) Unit of account - represent value although we are sitting in university, almost all of the monetary figures we have been given are usually in uds.
