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
39
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
A、StudentsfromAmerica.B、StudentsfromEngland.C、StudentsfromAustralia.D、StudentsfromJapan.A
NextmonthalargegroupofBritishbusinesspeoplearegoingtoAmericaonaventurewhichmaygenerateexportearningsforthe
EveryoneseemstohateAmerica’slateststabatimmigrationreform,whichwentbeforethefullSenatethisweek.Immigrantgroup
A、Shehadtoflyonthefollowingday.B、Shewasluckyenoughtohaveanunoccupiedseat.C、Shepaidextramoneyforherflight.
A、Sheexceededthespeedlimit.B、Shedrankthewinebeforedriving.C、Shedidn’tyieldtochildrencrossingtheroad.D、Shepar
瑞典最近的一项调查显示,几乎一半的非正常死亡与饮酒有关。科学家们指出在由事故或其他事件引起的死亡事件中,44%与饮酒有关。
IusedtoboastthatBritainwasarelativelyuncorruptsociety.LookatFrance,Iwouldsay,whereahighproportionofrecent
Whattodonow?SchoolofficialsaroundthecountryareaskingthatquestionfollowingaSupremeCourtdecisionrejectingracial
Fiftyyearsago,RobertSolowpublishedthefirstoftwopapersoneconomicgrowththateventuallywonhimaNobelprize.Celebr
乔羽的歌大家都熟悉。但他另外两大爱好却鲜为人知,那就是钓鱼和喝酒。晚年的乔羽喜爱垂钓,他说:“有水有鱼的地方大都是有好环境的,好环境便会给人好心情。我认为最好的钓鱼场所不是舒适的、给你准备好饿鱼的垂钓园,而是那极其有吸引力的大自然野外天成的场所。
随机试题
在RLC串联电路中,已知R=30Ω,L=254mH,C=80μF,电路电流i=。试求:(1)总电压;(2)P、Q、s;(3)作相量图,并分析电路的性质。
加工精度是指()的几何参数与理想零件的几何参数相符合的程度。
简述审美与人生境界的关系。
多元回归分析在哪些情况下适用?
目前最大的国际性外汇市场是()
在一项队列研究中,非暴露组150名中15人患高血压,暴露组200人中30人患高血压,归因危险度为
旅游团第一餐安排在旅游者进房前还是进房后,要根据旅游者的需求而定。()
汇票承兑根据《票据法》规定,汇票承兑是指汇票付款人承诺在汇票到期日支付汇票金额的票据行为。定日付款或者出票后定期付款的汇票,持票人应当在汇票到期日前向付款人提示承兑,汇票未按照规定期限提示承兑的,持票人丧失对其前手的追索权。某公司与某商店成交一笔供销领结的
圈养动物是比野生动物更有意思的研究对象。因此,研究人员从研究圈养动物中能够比研究野生动物中学到更多的东西。上面的论证依赖于下面哪一个假设?
WhichistrueofmanyAIDSsufferersindevelopingcountries?AccordingtoLee,ourresponsetoAIDSdiseaseis
最新回复
(
0
)