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Money And Banking

Question

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What is main function of money in an economic system?

Solution

The main function of money is to facilitate the exchange of goods and services, i.e., to lessen the time and effort required to carry on trade.

Some More Questions From Money And Banking Chapter

Distinguish between limited legal tender and unlimited legal tender.

Give functional definition of money.

Give narrow definition and broad definition of money.

Write short notes on the following:
Standard and Token coins.

Write short notes on the following:
Credit money

What is High Powered Money?
or
Write short notes on the following:
High powered money.

What is liquidity trap?

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