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Which are used most often?

by | Nov 21, 2022 | English | 0 comments

 

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The monetary system in any economy facilitates trade and allows people to trade more efficiently, as compared to a barter economy. In the United States, the monetary authority is the Federal Reserve System (also referred to as the Federal Reserve, or informally, as the “Fed”.)
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For this assignment, use the information presented in the textbook and the Fed’s website (http://www.federalreserve.gov/) when addressing the questions below.
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What are the requirements for something to be considered money? Why does the dollar have value?
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What does the money supply consist of and what are the respective amounts in the total money supply for the United States?
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What are the primary functions of the Fed? What role does the Federal Open Market Committee (FOMC) play in our economy?
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What role do the financial institutions (commercial banks and other institutions) play in our financial system?
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What is meant by the term “fractional-reserve banking” in our system? What are the implications for consumers?
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What are the tools available to the FED for controlling the money supply? Which are used most often? Which are most effective?
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How does the money multiplier help to determine the effects of monetary policy?
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What are the pros and cons of using monetary policy, as opposed to the use of fiscal policy, for implementing economic policies and practices?
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Include a summary section in your report that contains 5-7 bullet points identifying your major findings or conclusions of your paper.

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