The preamble of the Bank Act of 1934 specifies that the role of the Bank of Cana

Question

The preamble of the Bank Act of 1934 specifies that the role of the Bank of Canada would be

solely to control and protect the external value of the Canadian dollar solely to regulate credit and currency in the best interest of Canadians solely to reduce fluctuations in production and employment solely to reduce fluctuations in trade and prices to regulate credit and currency, to control and protect the external value of the Canadian dollar, to reduce fluctuations in production and employment, and to reduce fluctuations in trade and prices

Explanation / Answer

1to regulate credit and currency, to control and protect the external value of the Canadian dollar, to reduce fluctuations in production and employment, and to reduce fluctuations in trade and prices

2 an asset with no intrinsic value but is used for barter

3 reserve requirement crisis

4 money is created

5 actual reserve-deposit ratio is equal to the desired reserve-deposit ratio

6 the reserve-deposit ratio

7 the price level times real output

8 make more loans in order to earn interest

9 the combined behaviour of the commercial banks and the public, and the actions of the Bank of Canada

10 C + R/r

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