Pls help with below homework, explain in 6-7 sentences. Which of the following items can be considered money in the Canadian economy? Briefly explain your answers by discussing the three functions of money—medium of exchange, store of value, and unit of account. a. A Canadian $100 bill b. A Visa credit card c. A well-known painting by Robert Bateman d. A share of Tim Hortons stock e. A $1 bill of Canadian Tire money

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Required Reserve and Excess Reserve Analysis

A required reserve is an amount of cash that banks must keep with themselves, which is certain percentage of the deposits made by their customers. Required reserve is a percentage of the bank's deposits that the respective bank must have on each overnight. The percentage rate is set and determined by the nation’s central bank. It is important to have such funds accumulated to meet its uncertain obligations, sudden liabilities and withdrawals. Required reserve is also known as reserve ratio. Reserve ratio is an important tool to control the money supply.