Economics > EXAM > Economics of banking full summary: Book, Lectures, Tutorials 2023 (All)

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Economics of banking full summary: Book, Lectures, Tutorials 2023

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Economics of banking full summary: Book, Lectures, Tutorials [Distinction Level]2023 Commodity money - -Money whose value comes from s commodity of which is made -Fist money - -Currency that a g... overnment has declared to be legal tender, but is not backed by a physical commodity. -Fractional banking - -Baking system in which only a fraction of bank deposits are backed by actual cash-on-hand that is available for withdrawals -What is a metallic standard - -Monetary system in which a government recognized coins composed of gold or silver as tender -What are the three functions of money - -• medium of exchange • standard of value • store value [Show More]

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Economics of banking full summary: Book, Lectures, Tutorials Questions and Answers 2023

check routing number - -A group of numbers listed at the bottom of a check ; the first group is your routing number (bank ID number), the second is your account number and the third is your check numb...

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