第二章 Money, banking and the economy
1 a! m1 ~4 c( c 1）Function of money
6 J' S+ Q# Q) C; Z( h. ~- `! D 1. Medium of exchange' E. Z* _9 g8 P# O; a
2. Store of value
. x7 l2 B( ~+ `2 I/ U 3. A unit of account (standard of value)0 l2 @+ A# Q$ ~1 i# d
4. Standard of deferred payment0 J! G T+ k3 U5 p( N/ c
2）Characteristic of money% h8 R( L6 @% h- Z* w# L3 K
1. Portability j# r: I4 E, M7 z5 Z! k
2. Divisibility
7 m8 e9 b. ^! y 3. Homogeneity and identifiability+ s+ T1 a4 k2 \- |1 Q
4. Durability# f$ ]0 \ l' Z+ u0 v; V! n
5. Scarcity
" ~# w% h" O! }! g) S" V. u1 S% }) _/ _ 6. Purchasing power stability' U0 s/ ^( `/ \4 H# E
3）Type of money
7 m. ?6 x' p. {/ r0 g M 1. Token money
2 q' X" E9 f# q* K1 _# F 2. Cheque account deposits
3 i9 r* l) [. n! _5 ~3 _7 J 3. Commodity money7 T6 t# N7 n2 T
4）Cheque itself is not “money”; it is only the amount of money in the relevant account, which is considered to be “money”.! F1 R: ]. D$ k
5）A required reserve ratio is a fraction of the deposits of the public that a bank hold in reserves; that is, the minimum amount of reserves a bank must, by law, keep either in currency or in deposits with the central bank.% i* A8 j- s5 B' N- A- Y x
6）Money multiplier=1/R
! \: \$ W7 U3 M$ _' F 7） M1: the sum of legal tender coins and notes held by the public +the customers’ demand deposits placed with licensed bank d4 \4 Z2 q' D; ^4 M& d# s
M2: the sum of M1+customer’s saving and time deposits with licensed banks + negotiable certificates of deposits (NCDs) issued by licensed banks held outside the banking sector
: }$ p5 G1 A* C4 g M3: the sum of M2+customer deposits with restricted license bank (RLB) and deposit-taking companies (DTCs) +negotiable certificate of deposits (NCDs) issued by these institutions held outside the banking sector. |
发表于 2012-8-16 08:44:06
