Because of the prevalence of fractional reserve banking, the broad money supply of most countries is a multiple greater than 1 of the amount of base money created by the country's central bank.
For example, the valuation of the benefit of cleaner air could be established by finding how much less people paid for housing in more polluted areas which otherwise was identical in characteristics and location to housing in less polluted areas.
Credit also has a temporary bridging function intradeof course, namely the period between purchasing and selling a good. When the dollar value of benefits at some time in the future is multiplied by the discounted value of one dollar at that time in the future the result is discounted present value of that benefit of the project.
Asight balance,also called asight deposit or demand deposit,comes into being with this credit entry, which is tantamount to the creation of book money.
However, it also served as anintermediate targetfor the Deutsche Bundesbank from to The quantitative and practical relevance of book money is constantly increasing in comparison with the other forms of money. The same thing applies to costs.
The relationship between the market price and the quantity consumed is called the demand schedule. To include both the increase in property values and the time saving and risk reduction would involve double counting.
Yet the banknotes issued were still regionally valid and temporary; it was not until the mid 13th century that a standard and uniform government issue of paper money was made into an acceptable nationwide currency.