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
56
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.
【6】
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
medium of exchange
解析
转载请注明原文地址:https://kaotiyun.com/show/4qpO777K
0
专业英语八级
相关试题推荐
A、theyseemtobefuntobeginnersB、theyallowbigwinsC、theyareeasytoplayD、bigwinsseempossiblegivenenoughtimeand
TheCostofNaturalDisastersI.ExamplesofrecentnaturaldisastersA.earthquakeinJapanandNewZealandB.floodinThailan
Women’smindsworkdifferentlyfrommen.Atleast,thatiswhat【M1】______mostmenareconvincedof.Psychologistsvi
TheGameoftheNameHerecomesJohnSmithwalkingtowardme.Eventhoughbeisbutapassingacquaintance,theAmericangree
______istheonlyCanadianprovincewithapredominantlyFrench-speakingpopulation.
A、Anactor.B、Madealivinginadvertising.C、Ashampoosalesman.D、Aproducer.A
Theevolutionofsexratioshasproduced,inmostplantsandanimalswithseparatesexes,approximatelyequalnumbersofmalesa
OnlineTherapyIsn’tShrinkingOnlinetherapyisdangerous,criticssay.Quackscouldsetupshopandcheatcustomers.Disco
"CBSNewsRevampsWebSite,AddingCriticalBlogandVideos"AspartofanambitiousattempttoreviveCBSNews.comwithabr
A、ThestudyofEmuoilB、theuseofEmuoilC、TheeffectofEmuoilD、neitherofabovechoicesA
随机试题
简述企业持有现金的动机。
关于免疫缺陷病的叙述,下列中不正确的是A.对各种感染的易感性增高B.涉及免疫组织、细胞,分子等的缺陷C.增高了恶性肿瘤的发生率D.年龄越大,病情越轻,预后理想E.某些疾病可具有遗传倾向
男,49岁,胃溃疡病史12年。近3个月上腹痛变为无规律,伴食欲减退。胃肠钡餐检查:胃窦部可见2.5~3.4cm龛影,边缘不齐。粪便隐血检查多次阳性。最有可能的诊断是
下列哪项不是深静脉血栓形成的诊断方法()
企业法律顾问需要具备的国家规定的条件,包括()。
甲对乙享有2006年8月10日到期的六万元债权,到期后乙无力清偿。乙对丙享有五万元债权,清偿期已届满七个月,但乙未对丙采取法律措施。乙对丁还享有五万元人身损害赔偿请求权。后乙去世,无其它遗产,遗嘱中将上述十万元的债权赠与戊。对此,下列哪些选项是正确的?(
下列哪些选项属于积极义务的范畴?(2011年卷一第55题)
会计职业道德的功能包括( )。
行政诉讼:是指人民法院基于公民、法人和其他组织的请求,对行政机关具体行政行为的合法性进行审查并作出判决,解决行政争议的活动。根据上述定义,下列行为属于行政诉讼的是()。
Mostpeoplewhotravellongdistancescomplainofjetlag(喷气飞行时差反应).Jetlagmakesbusinesstravelerslessproductiveandmorepr
最新回复
(
0
)