There are different types of money which is being used in money market. Money -of -account and money proper are one of them. One of the famous economist ,the Keynes distinguished between money of account and money proper. According to. him ,’ money -of-account is that in which Debts and Prices and General Purchasing Power are expressed.” Money- proper, on the other hand , is the actual money in which contracts or debts are settled , such as the Indian Rupee, the British Pound, the American Dollar , the French Franc , the Italian Lira, etc. Usually. there is no difference between money -of-account and money-proper. However , if the accounts are kept in some other currency ,the money -of- account differs from money proper. This happened in Germany after the First world war when the money – of -account was the American Dollar and the money – proper was the Mark.————————————————–The End—————————————————.
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