Instructions: Identify the Following

question 23

Essay

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
William Berkeley, Nathaniel Bacon, Bacon's Rebellion

---

Definitions:

Money Creation

The process by which the money supply of a country is increased through activities primarily conducted by its central bank.

Monetary Control Act

A 1980 United States federal law that aimed to improve the Federal Reserve's control over monetary policy and to ensure more effective financial regulation.

Excess Reserves

The funds that banks hold over and above the legal requirement set by a central bank or banking regulator.

Commercial Bank

A firm that engages in the business of banking, accepting deposits, offering checking accounts, and making loans.