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 cons
Money in America Money is used to buy goods or services and【1】_________debts. 【1】_________ In America, money supply cons
admin
2010-01-18
45
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; 【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 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.
(a 12-minute interval)
选项
答案
stability
解析
转载请注明原文地址:https://kaotiyun.com/show/O5vO777K
0
专业英语八级
相关试题推荐
Whatisdistancelearning?Itmeansthatyoustudyonyourown,athomeorwhereversuitsyou.Recently,theworldfamousOpenU
Thereisabasichypothesisthatthemajorityofseriousmotoringoffencesarederivedfromaccidents,andthereisnothingint
Inalmostallcasesthesoftpartsoffossilsaregoneforeverbuttheywerefittedaroundorwithinthehardparts.Manyofth
Americanshavecometoexpectalotoftheirpresidents,moreperhapsthananycandeliver.Wesaythatthepresidentrunsthec
TheFrenchwordrenaissancemeansrebirth.Itwasfirstusedin1855bythehistorianJulesMicheletinhisHistoryofFrance,t
OurculturehascausedmostAmericanstoassumenotonlythatourlanguageisuniversalbutthatthegesturesweuseareunderst
Howcouldfaithbegetsuchevil?AfterhundredsofmembersofaUgandancult,theMovementfortheRestorationoftheTenComman
TheAsian(1)hastakenitstollonHongKong’stouristindustry,(2)offoreignexchangeforthearea.VOAHongKongcorrespond
TheAsian(1)hastakenitstollonHongKong’stouristindustry,(2)offoreignexchangeforthearea.VOAHongKongcorrespond
Whenyouaresmall,allambitionsfallintoonegrandcategory:whenI’mgrownup.WhenI’mgrownup,yousay,I’llgoupinspa
随机试题
(2016年10月单选第9题;2017年4月名词解释第33题)个体与个体,或个体与群体间相互依存、相互激励的社会心理现象是()
根据《环境影响评价技术导则一地下水环境》,对于随着生产运行时间推移对地下水环境影响有可能加剧的建设项目,应按()分别进行环境影响识别。
某企业在2017年6月的经营中,支付桥、闸通行费3600元,支付高速公路通行费5000元,均取得通行费发票(非财政票据),则该企业可以抵扣的进项税为()元。
单位来了一位新领导,经常当众批评下属,同事们都对他很不满,甚至有同事拉拢你一起抵触领导,此时你该怎么做?
R研究机构日前表示,对于随着人的年龄增长、各项机能也随之不断减退的皮肤细胞,使用iPS(诱导多能干细胞)技术可以有效恢复其相关机能。此前有观点认为是线粒体内的基因(随年龄增长)变异而导致的细胞老化。而研究人员发现,老年人的细胞一旦被施加了iPS细胞技术,会
Developingcountriesareunusuallyvulnerabletocigaretteadvertising.Untilrecently,someofthemsoldtobaccoonlythroughg
新民主主义革命必须由无产阶级领导(实质是共产党领导),这是
Writeanessaybasedonthefollowingdrawing.Inyourwriting,youshould1)describethedrawingbriefly,2)explaint
项目进行到某阶段时,项目经理进行绩效分析,计算出CPI值为1.09,这表示()。
•ReadthearticlebelowaboutculturaldifferencesbetweenJapaneseandAmericanmanagers.•Choosethebestsentencetofillin
最新回复
(
0
)