High powered money is:
A. That money which is issued by the authority of the government
B. That money, whose money value exceeds commodity value of money
C. notes and coins held by the people as well as cash reserves of the commercial banks
D. that money which is accepted as a medium of exchange because of the trust between the payer and the payee
Answer:C
High powered money is:
A. That money which is issued by the authority of the government B. That money, whose money value exceeds commodity value of money C. notes and coins held by the people as well as cash reserves of the commercial banks D. that money which is accepted as a medium of exchange because of the trust between the payer and the payee