the economics of money, banking, and financial markets

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Economics of Money, Banking & Financial Markets, 5e (Mishkin)
Chapter 11 Banking Industry: Structure and Competition

11.1 Historical Development of the Canadian Banking System

1. 
   

   The modern Canadian banking system began with ____.
   A) the Chartered Bank of Upper Canada in 1821
   B) the Bank of Montreal in 1817
   C) the Bank of Lower Canada in 1801
   D) the Bank of New Brunswick in 1820
   Answer: B
   Diff: 1 Type: MC Page Ref: 238
   Skill: Recall
   Objective List: 11.1 Chronicle the historical development of the Canadian banking industry and
   its current structure

   
   


2. 
   

   The government institution that has responsibility for the amount of money and credit
   supplied in the economy as a whole is the ____.
   A) central bank
   B) commercial bank
   C) bank of settlement
   D) monetary fund
   Answer: A
   Diff: 1 Type: MC Page Ref: 238 - 239
   Skill: Recall
   Objective List: 11.1 Chronicle the historical development of the Canadian banking industry and
   its current structure

   
   


3. 
   

   Currency circulated by banks that could be redeemed for gold was called ____.
   A) junk bonds
   B) banknotes
   C) gold bills
   D) state money
   Answer: B
   Diff: 1 Type: MC Page Ref: 238
   Skill: Recall
   Objective List: 11.1 Chronicle the historical development of the Canadian banking industry and
   its current structure