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ECN 211 - Macroeconomics - ASU - Pereira - Exam #3 Questions and Answers 100% Correct |
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ECN 211 - Macroeconomics - ASU - Pereira - Exam #3 Questions and Answers 100% Correct |
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ECN 211 - Macroeconomics - ASU - Pereira -Exam #3 Questions and Answers 100%
Correct | 2024-2025
Money - ANSWER Set of assets in an economy that people regularly use to buy
goods and services from other people
Functions of Money - ANSWER - Medium of exchange
- Unit of account
- Store of Value
Medium of Exchange - ANSWER Item that buyers give to sellers when they
want to purchase goods and services.
Unit of Account - ANSWER Yardstick people use to post prices and record
debts.
Store of Value - ANSWER Item that people can use to transfer purchasing
power.
- From the present to the future.
Liquidity - ANSWER Ease with which an asset can be converted into the
economy's medium of exchange.
Money Stock - ANSWER Quantity of money circulating in the economy.
, Currency - ANSWER Paper bills and coins in the hands of the public.
Demand Deposits - ANSWER Balances in bank accounts; depositors can access
on demand by writing a check.
Measures of Money Stock - ANSWER M1
- Demand deposits, Traveler's checks.
-Other checkable deposits, currency.
M2
- Everything in M1.
- Saving Deposits, small time deposits.
- Money market mutual funds.
- A few minor categories.
The Federal Reserve
(The Fed) - ANSWER Purpose: To ensure the health of the nation's banking
system.
- Central bank of the United States.
- Created in 1913.
- After a series of bank failures in 1907.
Central Bank - ANSWER Institution designed to :
- Over see the banking system
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