Most of the money in our economy is created by banks, in the form of bank deposits – the numbers that appear in your account. Banks create new money whenever they make loans. 97% of the money in the economy today exists as bank deposits, whilst just 3% is physical cash. This short video explains:
The money that banks create isn’t the paper money that bears the logo of the government-owned Bank of England. It’s the electronic deposit money that flashes up on the screen when you check your balance at an ATM. Right now, this money (bank deposits) makes up over 97% of all the money in the economy. Only 3% of the money is still in that old-fashioned form of cash that you can touch.
I hope this helps you.
Answer:
She Prefers living with her human family to living alone
Explanation:
Answer:
governor of the state.
Explanation:
An economic development plan for a US metropolitan city would most likely be created by the governor of the state.
This is because, as the governor, he is in charge of the planning, administration and control of the state which means he has to make plans for the economic development of the city.
