Which of the Following Is the Most Important Function of the Bank

question 177

Multiple Choice

Which of the following is the most important function of the Bank of Canada?

• A)the collection or clearing of cheques among chartered banks
• B)regulating the supply of money
• C)acting as a fiscal agent for the federal government
• D)holding the reserves of chartered banks

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Definitions:

Retirement Income

Income that an individual receives after retiring from active employment, which can come from pensions, savings, investments, and government benefits.

After Tax

Referring to the net amount remaining after income tax has been deducted from gross income.

Annual Return

Refers to the percentage change in an investment's value over a one-year period, including dividends and interest.

Market Rate

The current price or cost of goods, services, or financial assets in a competitive marketplace, often subject to fluctuations.