Money is defined as:

Select one:

convertible to gold.

a person.s net worth.

a byproduct of a barter economy.

anything people generally accept in exchange for goods and services.

Deposits received by commercial banks but not loaned out are known as:

Select one:

demand deposits.

restricted reserves.

excess deposits.

reserves.

The Bank of Canada's most important function is to

Select one:

create stability in the Canadian banking system.

set the legal, controlled consumer interest rates.

provide for cheque collection and clearing.

lend to the Alberta government.

When households hold money (currency) for unplanned expenditures and emergencies, it is called

Select one:

a.the demand for "hot" money.

b.the transactions demand for money.

c.the speculative demand for money.

d.the precautionary demand for money.