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Identify the one true statement about the money

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Problem 1: Identify the one true statement about the money and banking system:

(a) Conditions for money to be a good least-cost medium of exchange include that it must be storable, but the stable purchasing power is not required

(b) When the Fed lowers the discount rate that banks pay on short-term loans there is an increase to the liquidity of money

(c) Reserve requirement is the maximum amount of funds banks can hold against deposits in bank accounts

(d) Historically banks could not create more bank receipts than they had coins to cover them

(e) None of the above

Reference no: EM132915635

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