Which of the following does not describe some of the functions of the Bank of Canada?...
Which of the following does not describe some of the functions of the Bank of Canada?
A.
Acts as the government's fiscal agent and acts as a lender of last resort.
B.
Regulates the money supply.
C.
Supplies the economy with currency, provides a system for cheque clearing, and holds depository institutions' reserves.
D.
Acts as a medium of exchange, a unit of accounting, a store of value, and a standard of deferred payment.
Homework Answers
ANSWER- OPTION D
Option D cannot be defined as the function of the Bank of Canada as it is the function of money It acts as a medium of exchange, a unit of accounting , store of value and as standard of deferred payments.
All the functions except that of OPTION D are the functions of the BANK OF CANADA.
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