Explain why Australia’s currency is suitable to use as a medium of exchange.
a) Explain why Australia’s currency is suitable to use as a medium of exchange.
b) An economy has the following financial data by the end of December 2018:
| Type of Money | S Billion |
| Currency in Circulation | $98 |
| Current deposits at banks | $458 |
| Other deposits at banks, building societies and credit unions | $2230 |
| Deposits at other financial institutions (NBFIs) | $52 |
Calculate M1, M3 and broad money by the end of December 2018.
c) What role does the Reserve Bank of Australia (RBA) have in the economy?
In: Economics
