1. What are the different ways of de?ning money in your economy? Compare these with the monetary aggregates commonly used in another selected country. Explain their differences and the reasons for such differentiation.
2. Can banks create money? How and under what conditions? How do banks differ from other ?nancial intermediaries and why do central banks regulate more closely the operations of banks?
3. Why do we observe a wide variety of checking and savings accounts, rather than just one of each type?