Fill in the blanks to make the following statements correct.

a. Money serves three functions: __________,________

and _________.

b. Suppose children at a summer camp are each given a credit of \(\$ 20 \) at the snack shop, where purchases are recorded but no cash is exchanged. This is an example of money as a(n) _________ and \(a(n)\) ____________.

c. Paper money and coins that are not convertible into anything with intrinsic value, but are declared by the government to be legal tender, are known as _________.

d. The Bank of Canada has four main functions in the Canadian economy:

• _______________

• _________________

• ________________

• ________________

e. Canada has a(n) ____________ reserve banking system, in which commercial banks keep only a fraction of their total deposits in reserves. A commercial bank has a(n) _________ to keep as reserves.