Answer this questions briefly

Part-1. Concept Check Questions (Each Question = 2 Mark) Please answer following questions very briefly in a few words. 1. What is the basic characteristic that something must have in order to function as "money"? 2. A bank of Canada note used to be backed by gold reserves. What is it backed by now? 3. What is the reason credit cards are not considered money? 4. Notes and coins outside banks plus demand deposits makeup the type of money. 5. The Bank of Canada would charge a chartered bank what is known as if a chartered bank borrowed from the Bank of Canada. 6. The government programs designed to automatically counteract economic upswings and down swings is termed as 7. What is the economic purpose of a federal budget deficit? 8. What are three ways by which the monetary authorities can influence the money supply? 9. Give an example of a combination of fiscal policy actions that would most likely be offsetting each other? 10. An economist who advocates discretionary fiscal policy would recommend