首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Money in America Money is used to buy goods or services and【1】______ debts. 【1】_________ In America, money supply con
Money in America Money is used to buy goods or services and【1】______ debts. 【1】_________ In America, money supply con
admin
2014-07-25
27
问题
Money in America
Money is used to buy goods or services and【1】______ debts. 【1】_________
In America, money supply consists of【2】______ (paper 【2】_________
money), coins, and demand deposits [【3】______]. 【3】_________
In a modern credit economy, money must possess
two most important attributes: acceptability and【4】______. It also 【4】_________
has two legal attributes: legal tender and【5】______ 【5】_________
Money performs four main functions: a. standard of value;
b.【6】______; 【6】_________
c. store of value; d. standard of deferred payment.
There are three partially conflicting theories of value for explaining the
【7】______ in the value of American money, 【7】_________
namely the commodity, quantity and income theories.
Coins are credit money or【8】______ money whereas 【8】_________
paper money consists of Federal Reserve notes. Demand
deposits are supplied depending on a bank’s total【9】______ 【9】_________
reserves.
The Federal Reserve, or Fed, as a central bank,【10】______ and 【10】_________
controls the nation’s money supply and credit.
【1】
Money in America
Money is anything that is in general use in the purchase of goods and services and in the discharge of debts. Money may also be defined as an evidence of debt owed by society. The money supply in the United States consists of currency (paper money), coins, and demand deposit (checking accounts). Currency and coins are government-created money, whereas demand deposits are bank-created money. Of these three components of our money supply, demand deposits are by far the most important. Most of our money supply is invisible, intangible, and abstract.
The two most important inherent attributes that money must possess in a modern credit economy are acceptability and stability. In earlier times in the evolution of money and monetary institutions in the United States, the attributes of divisibility, portability, and visibility were important. The two legal attributes of "legal tender" and "standard money" are not of as much importance today as in the past.
The four functions that money often performs are standard of value; medium of exchange; store of value; and standard of deferred payment. In a modern specialized economy and, most especially, are the most important of these.
Although it is agreed that the value of money has fallen in the United States over time, there are three in part conflicting theories of value that have been advanced to explain this phenomenon; the commodity, quantity, and income theories. Most economists today espouse either the second or more typically, the third of these. Any money can retain its value as long as its issuance is limited; it need not have a commodity backing. Inflation or rising prices have been explained by demand and/or supply theories in recent years, although historically the former has been thought to provide the more satisfactory explanation.
Our presently circulating coins are credit money or token money in that the market value of metal in the coins is worth less than the face (or mint) value of the coins. Gresham’s
Law—i.e. , bad money tends to drive out good money—explains why coins with a greater market value than mint value cease circulating. Most of the paper money in the United States consists of Federal Reserve notes; the remaining minor types of paper money are called treasury currency. Demand deposits are bankcreated money, the supply of which is limited to any single bank by the amount of its total legal reserves. If it lends more than the amount of its excess reserves it would have an adverse clearing balance.
Modern fractional reserve banking grew out of the experiences of early goldsmiths who found that 100 percent reserves were not needed with a reserve requirement ratio of say 20 percent, the banking system as a whole could expand its demand deposits in a 5: 1 ratio to its reserves. A monopoly bank could operate as does the entire banking system, since being the only bank it is, in effect, the entire banking system. If some money leaks out of the banking system, its coefficient of credit expansion is reduced from the 5: 1 ratio indicated above.
The Federal Reserve, or Fed, is a central bank whose prime function is to monitor and control the nation’s money supply and credit through monetary policy in the attempt to stifle inflation, promote economic growth with high employment, and help with the sale of government bounds. It is not clear that the Fed has always understood its powers and purposes. It has had much more success in helping with the sale of government bonds and in performing its service functions than in promoting growth and maintaining stability. The Fed’s three main quantitative weapons, in order of importance, are open market operations; discount rate policy; and changes in legal reserve requirements. It has at times had some moderate success in using some qualitative controls as well.
Now, you have 2 minutes to check your notes, and then complete the gap-filling task on Answer Sheet One in ten minutes.
选项
答案
discharge
解析
转载请注明原文地址:https://jikaoti.com/ti/M40YFFFM
0
专业英语八级
相关试题推荐
EducationalValuesDuringthefirstweekatNorthAmericanuniversities,studentsmustdoafewthingsinpreparation,solif
Whichofthefollowinggroupofwritersaretheplaywrightsofthe17thcentury?
WhenwillUStroopsbepulledoutofAfghanistan?
______laidthefoundationsoftheEnglishstate.
A、Meethiswifeinthehospital.B、Takehiswifetohospitalbytaxi.C、Writeawrittenstatementtothepolice.D、Havehisdama
______isnotadominantfigureoftheRealisticPeriod?
WritingEffectiveSurveyQuestionsI.ForquantitativedataA.Makinganoutlineofissueswith(1)______,concretethoughts(1)_
WhenIwas10yearsoldoneofmyfather’scustomershadcaughtabigcatfishonaweekendtriptotheColoradoRiver.Itweighe
Therearemoredrugsdispensedforpainthanforanyotherdiseaseonthisplanet.Drugcompaniesenjoyearninghugeprofitsf
Inrecentyears,railroadshavebeencombiningwitheachother,mergingintosuper-systems,causingheightenedconcernsaboutm
随机试题
老李因中风被送进医院,虽经过治疗,但仍留下了行动不便的后遗症。出院后,家人因费用问题无法将他送进专业机构进行康复治疗,于是向社会工作者小张求助。小张立即从社区志愿者资料库中寻找到有护理经验和康复技能的志愿者帮助老李。从社区照顾模式的角度看,小张运用了(
I’dliketo______aspecialseatfortheconcertofMay5.
宜入丸散,不入煎剂的药物是
在ICD-10中,多数编码是指
男性,65岁。以往有劳力型心绞痛,长期服用硝酸酯类药物,病情尚稳定。近1个月来胸痛又发作,部位位于胸骨下段,且多发生于午睡时或晚间入睡后,服硝酸甘油无效,起床站立后可缓解。以往有胆结石史但从无发作。为了进一步明确诊断应做下列哪项检查
常用氟哌利多和__________按50:1制成合剂做静脉注射,使患者意识模糊,痛觉消失,称为神经安定镇痛术。
背景资料:A公司中标某市城区高架路工程第二标段。本工程包括高架桥梁、地面辅道及其他附属工程:工程采用工程量清单计价,并在清单中列出了措施项目;双方签订了建设工程施工合同,其中约定工程款支付方式为按月计量支付:并约定发生争议时向工程所在地仲裁委员会申请仲裁
咨询方案中需要明确的求助者的权利包括()。
Readthisnotefromyourboss,Mr.RichardWesley.May18th,2013Louise,Ourcompanyisworkingonopeninganewof
Scratchythroats,stuffynosesandbodyachesallspellmisery,butbeingabletotellifthecauseisacoldorflumaymakea
最新回复
(
0
)