• The type of monetary disturbances (injections or leakages) to which the following four money systems are particularly prone and which make them susceptible to macroeconomic imbalances: (a) the pure commodity money system, (b) the commodity-based bank money system with fractional reserve banking, but without central banking, (c) the commodity-based bank money system with fractional reserve banking and with full-blown central banking, and (d) the fiat money system. Indicate how macroeconomically stable or unstable each system is likely to be. (25/100)