Question

What is the most surprising thing about money you have learned in Economics? Give examples (Canada)

Answer 1

1. Only 8% is in the form of physical cash related to world's currency.

2. The amount which is owned by every individual or any said organisation is nearly $200 trillion but the share of cash and bank deposits owned by the world is only close to $81 trillion which is 2.5 times lower than the above mentioned figure which is a debt oriented crisis.

3. Canadian banknotes are also made with the fat of the animals like that of Australia. On January 21, 2002, its dollar had hit its lowest against greenback to US61.79 cents.

4. Low cash in hand in Canada as the government prefer bringing lower cash load into the economy. So more credit cards are found in the economy in any aspect of daily operations.

5. Foreign currencies could be easily exchanged into its currency. In the borders of US or in Canada itself, near the tourist destinations, US dollars are easily accepted with a little amount of fares by some retailers.