ECON 1010 Lecture Notes - Lecture 14: Sticky Bun, Mortgage Loan, Demand Deposit
30 Mar 2018
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Circulation means in hand of the public, money held by the bank is not in circulation. 2 qualifications: chartered banks (td, cibc, rbc) Can"t easily & readily transform it as cash. M2++: m2 plus canadian saving bonds and non-money market mutual funds. Don"t need to know the definitions of m2+ and m2++, you just have to know where it came from (that it goes from m1, m2, m2+, m2++) In jail you can get good services by trading cigarettes, it is serving as a function of money (service of money) Inflation and acceptability = high inflation means that the money becomes less acceptable. Banks of canada are big in terms of the canadian market, but not in the international market. Other financial intermediaries: trust companies, loan companies, credit unions, and caisses populaires, credit union is a financial institution, they do the same services, but it is not as stable because they are a smaller institution.
