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Canada (161,877)
York University (12,845)
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ECON 1010 (256)
Chapter 24

ECON 1010 Chapter 24: econ 1010 24
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Department
Economics
Course
ECON 1010
Professor
Ardeshir Noordeh
Semester
Winter

Description
Money hos 3 funcions other tran ayment medium of excnange nit of account agreed measure for stateng Aices goeds soaro u Store of ualue held money them lafr There are 2 main offical measures a maney th businesse are means de depo t non hequarole t paved ferm chesses inst natian n bank fo transfer Creda cadds enaldes o to aun mency then repay mom me banking Syste Depository insitutions The Banc Co icuer the cost of avarinoring oorreur Tve ONlty of deposits a bank can oreate one limited Nonetarg base Bork rotes t coas depostis 2. Desired reserves banks reserves to deposit that the banks pats Ha nald 3. Des ed curr herong CCurrency Dwain) what ta hald as arrang ency Change in monetary bare Size of the momu muhti per depends on Currency drain nato (GID) desired reserve rata C2/O CID) multipler A rise in price (eve increae quan of Rominal money but dcesmrt change reat money many if there is a m price. (are tnae is a lo T in nominal many demanded real mone Demand of mony tre relationship befuean the aanfHy of real money elemanded i nominal unterest rate in real DP demand 1 n real GDP 1 demav PY ChDP owth rate rate of lation vahe Real ADP growth rate money velocity crange Hn me lors run, e Ucoky does nut Charg so ovlv
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