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What is the Definition of Money Supply?

What is the Definition of Money Supply?

Total supply of money in the economy, composed of currency in circulation and deposits in savings and checking accounts. By changing the interest rates the Federal Reserve seeks to adjust the money supply to maintain a strong economy.

Source: Insurance Handbook A guide to insurance: what it does and how it works |

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Money Supply?

You can find random definition and meaning of insurance terms below:

Meaning of Auto Insurance Premium in Insurance Terms

The price an insurance company charges for coverage, based on the frequency and cost of potential accidents, theft and other losses. Prices vary from company to company, as with any product or service. Premiums also vary depending on the amount and type of coverage purchased; the make and model of the car; and the insured’s driving record, years of driving and the number of miles the car is driven per year. Other factors taken into account include the driver’s age and gender, where the car is most likely to be driven and the times of day—rush hour in an urban neighborhood or leisure time driving in rural areas, for example. Some insurance companies may also use credit history related information. (See Insurance score)

Meaning of Auto Insurance Policy in Insurance Terms

There are basically six different types of coverages. Some may be required by law. Others are optional. They are: 1.  Bodily injury liability, for injuries the policyholder causes to someone else. 2.  Medical payments or Personal Injury Protection (PIP) for treatment of injuries to the driver and passengers of the policyholder’s car. 3.  Property damage liability, for damage the policyholder causes to someone else’s property. 4.  Collision, for damage to the policyholder’s car from a collision. 5.  Comprehensive, for damage to the policyholder’s car not involving a collision with another car (including damage from fire, explosions, earthquakes, floods, and riots), and theft. 6.  Uninsured motorists coverage, for costs resulting from an accident involving a hit-and-run driver or a driver who does not have insurance.

Meaning of Association Group in Insurance Terms

A type of group that generally is eligible for group insurance and that consists of members of an association of individuals formed for a purpose other than to obtain insurance coverage, such as teachers’ associations and physicians’ associations.

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