Ebook Macroeconomics (10th edition): Part 2
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Ebook Macroeconomics (10th edition): Part 2
To download mormanual, and test bank, visit http://dow ”After studying this chapter, you will be able to:♦Define money and describe its functions♦Expl Ebook Macroeconomics (10th edition): Part 2lain the economic functions of banks and other depository institutions♦Describe the structure and functions of the Federal Reserve System (the Fed|♦Explain how the banking system creates money♦Explain what determines the demand for money, the supply of money, and the nominal interest rate♦Explain ho Ebook Macroeconomics (10th edition): Part 2w the quantity of money influences the price level and the inflation rate in the long runoney, like fire and the wheel, has been around for a long timEbook Macroeconomics (10th edition): Part 2
e, and it has taken many forms. Money was wampum (beads made from shells) for North American Indians, whale's teeth for Fijians, and tobacco for earlyTo download mormanual, and test bank, visit http://dow ”After studying this chapter, you will be able to:♦Define money and describe its functions♦Expl Ebook Macroeconomics (10th edition): Part 2check, or swipe a debit card or a credit card. Soon, we'll be using a "smart card" or even a cell phone Io moke payments. Are all these things money?The quantity of money in our economy is regulated by the Federal Reserve — the Fed. How does the Fed influence the quantity of money? And what happensA Ebook Macroeconomics (10th edition): Part 2 4 x-x k I r\/ TI I [— DDI Ố' cif the Fed creafes to° much money or too little money?/I N L ỉ ỵ I n L I IXI V- LIn this chapter, we study the functionEbook Macroeconomics (10th edition): Part 2
s of money, the banksthat create it, the Federal Reserve and its influence on the LEVEL, AND INFLATION quantity of money, and the long-run consequenceTo download mormanual, and test bank, visit http://dow ”After studying this chapter, you will be able to:♦Define money and describe its functions♦Expl Ebook Macroeconomics (10th edition): Part 2ring the recent financial crisis.183To download more slides, ebooks, solution manual, and test bank, visit http://dow184 CHAPTER 8 Money, the Price Level, and InflationWhat Is Money?What do wampum, tobacco, and nickels and dimes have in common? They arc all examples of money, which is defined as any Ebook Macroeconomics (10th edition): Part 2 commodity or token that is generally acceptable as a means of payment. A means of payment IS a method of settling a debt. When a payment has been madEbook Macroeconomics (10th edition): Part 2
e, there is no remaining obligation between the parties to a transaction. So what wampum, tobacco, and nickels and dimes have in common is that the}' To download mormanual, and test bank, visit http://dow ”After studying this chapter, you will be able to:♦Define money and describe its functions♦Expl Ebook Macroeconomics (10th edition): Part 2f ExchangeA medium of exchange is any object (hat is generally accepted in exchange for goods and services. Without a medium of exchange, goods and services must be exchanged directly for other goods and services—an exchange allied barter. Barter requires a double coin' cidence of u>anti, a situatio Ebook Macroeconomics (10th edition): Part 2n that rarely occurs. For example, if you want a hamburger, you might offer a CD in exchange for it. But you must find someone who is selling hamburgeEbook Macroeconomics (10th edition): Part 2
rs and wants your CD.A medium of exchange overcomes the need for a double coincidence of wants. Money acts as a medium of exchange because people withTo download mormanual, and test bank, visit http://dow ”After studying this chapter, you will be able to:♦Define money and describe its functions♦Expl Ebook Macroeconomics (10th edition): Part 2dit card isn't money. It doesn’t make a final payment, and the debt it creates must eventually be settled by using money.Unit of AccountA unit of account is an agreed measure for stating the prices of goods and services. To get the most out of your budget, you have to figure out whether seeing one m Ebook Macroeconomics (10th edition): Part 2ore movie is worth its opportunity' cost. But that cost is not dollars and cents. It is the number of ice-cream cones, sodas, or cups of coffee that yEbook Macroeconomics (10th edition): Part 2
ou must give up. It’s easy to do such calculations when all these goods have prices in terms of dollars and cents (see Table 8.1). If the price of a mTo download mormanual, and test bank, visit http://dow ”After studying this chapter, you will be able to:♦Define money and describe its functions♦Expl Ebook Macroeconomics (10th edition): Part 2.1 The Unit of Account Function of Money Simplifies Price ComparisonsGoodPrice in money unitsPrice in units of another goodMovie58.00 each2 cappuccinosCoppuccino$4 00 each2 iceEbook Macroeconomics (10th edition): Part 2
16).To download mormanual, and test bank, visit http://dow ”After studying this chapter, you will be able to:♦Define money and describe its functions♦ExplTo download mormanual, and test bank, visit http://dow ”After studying this chapter, you will be able to:♦Define money and describe its functions♦ExplGọi ngay
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