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 consists
Money in America Money is used to buy goods or services and【1】______ debts. 【1】______ In America, money supply consists
admin
2010-03-25
44
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.
【4】
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 deposits (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 tile 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.
选项
答案
stability
解析
转载请注明原文地址:https://kaotiyun.com/show/FFqO777K
0
专业英语八级
相关试题推荐
Aroundoneinahundreddeathsworldwideisduetopassivesmoking,whichkillsanestimated600,000peopleayear,WorldHealth
Extract1LastyearIstartedworkwithanewcompany.Unfortunately,inmynewroleIwasrequiredtospeakinpublic,atc
TherelativedeclineofAmericaneducationattheelementary-andhigh-schoollevelshaslongbeenanationalembarrassmentasw
A、Thecoursedesigner.B、Thechemistryprofessor.C、Thesupervisor.D、Thepresident.C
A、Toimprovetheirlanguages.B、Toattendweeklymeetings.C、Topracticepublicspeaking.D、Tomeetpublicspeakingprofessors.
TheUSNavyiswarningshipstostayawayfromthecoastofSomaliaafteraseriesofpirateattacksthere.TheUSMaritimeL
A、France.B、Italy.C、Switzerland.D、Spain.A
A、Therequirementsofastudent.B、Thequalificationsofacoach.C、Thelengthofone’straining.D、Theimportanceofone’sbuil
QuipusarethemysteriousbundlesofcoloredandknottedthreadsthatservedastheIncaempire’smeansofrecordinginformation
我国野生动植物物种丰富,仅脊椎动物就约有6000种,高等植物约3万种。为加快物种保护事业的发展,国家实施了“全国野生动植物保护及自然保护区建设工程”。自然保护区的建立,使一批具有代表性、典型性和科学研究价值的自然生态系统和珍稀濒危物种得到有效保护。另外,全
随机试题
某工程由于施工场地不能及时提供,造成施工总承包单位人员窝工75工日,增加用工8工日;由于施工分包单位设备安装质量不合格返工处理,造成人员窝工60工日,增加用工6工日。合同约定人工费日工资标准为50元,窝工补偿标准为日工资标准的70%,则业主应给予施工总包单
治疗寒热虚实各种水肿,均可使用的是
患者,男性,60岁,机械性肠梗阻,给予非手术治疗。在非手术治疗期间最重要的是观察
下列选项中哪项行为构成正当防卫?
项目策划阶段融资咨询的工作,主要是()提出融资方案,为决策服务。
案例4:假设:无风险收益率为9%,市场资产组合的期望收益率为15%,当前股票市价是100元。对于泛亚公司的股票,β系数为1.2,红利分配率为40%,所宣布的最近一次的收益是每股10元。预计泛亚公司每年都会分红,泛亚公司所有再投资的股权收益率都是20%,红利
某零息债券面值100元,票面收益率10%,两年后到期,当前市价95元,两年期市场利率为15%,则该债券的久期为( )年。
有一本书稿,用5号字排版印刷,每一页排26字×26行,即每一行26个字,共26行,共排了105页,排完后发现,这种字太小,于是改为小四号字,每页排20字×21行,则该书印出有多少页?
中国政府不承诺放弃使用武力,针对的群体有()
______,theflooriswet.Wehavejustcleanedit.
最新回复
(
0
)