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Discuss What Role Banks Play in the Money Creation Process

question 91

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Discuss what role banks play in the money creation process.


Definitions:

Formal Procedures

Established methods and protocols prescribed by an organization or system, often legal or governmental, for carrying out activities or resolving disputes.

Formally Approved

Officially sanctioned or authorized by a recognized authority.

Illegitimate Children

Children born to parents not legally married to each other, affecting their legal rights and status in some jurisdictions.

Inherit

To receive assets or liabilities left by a deceased person through their will or by statutory rights.

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