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Define Or Explain the Following Concept. Prof. Samuelson'S Definition of Central Bank - Economics

Short Note

Define or Explain the following concept.

Prof. Samuelson's definition of Central Bank 

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Solution

According to Prof. Samuelson “Central Bank is a bank of bankers. Its duty is to control the monetary base, through the control of high powered money, to control the community's supply of money.”

Concept: Definition - Central Bank
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 13 Central Banking
Exercise | Q 1.1 | Page 121
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