Introduction
Money plays a vital role in the determination of income and employment . interest rate are a significant determinant of aggregate spending ad the Federal Reserve which controls the money growth and the interest rates is the first institution to be blamed when the economy of in trouble. Now the question arises what is money.
Money Definition
Money is a medium of exchange. Money is divided into commodity money and token money. To some economist there is difference between commodity money and token money. A commodity money is a medium of exchange which has a commodity value as distinct from a value ...
