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
43
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.
【9】
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
legal
解析
转载请注明原文地址:https://kaotiyun.com/show/YqpO777K
0
专业英语八级
相关试题推荐
EducationalValuesDuringthefirstweekatNorthAmericanuniversities,studentsmustdoafewthingsinpreparation,solif
BenBuchananandAMagicBookTheTexasteenisdevouringthe672pagesofHarryPotterandtheHalf-BloodPrincewrittenby
BenBuchananandAMagicBookTheTexasteenisdevouringthe672pagesofHarryPotterandtheHalf-BloodPrincewrittenby
Women’smindsworkdifferentlyfrommen.Atleast,thatiswhat【M1】______mostmenareconvincedof.Psychologistsvi
Chemistryplaysanimportantpartinourlife.The【1】______ofaclock,【1】______theclotheswewear,andourleathershoesar
Manyhundredsofrebelswereputtodeathby______ashepassedtriumphantlywithanarmyof40,000menthroughKentandEssex.
AmericanGroupDynamicsToday,inWesternresearchinstitutesanduniversitydepartment,muchworkisdoneasateamprojecta
Thecomingoftherailwaysinthe1830stransformedsocietyandeconomiclifebyproviding,forthefirsttime,masstransportf
A英国地理。题目问英国最大的湖泊是什么湖,答案是LakeNeagh(内伊湖)。英格兰西北部的湖区(theLakeDistrict)是英国著名的旅游景点,也是著名湖畔诗人华兹华斯(WilliamWordsworth)的家乡。
Earlyanthropologists,followingthetheorythatwordsdeterminethought,believedthatlanguageanditsstructurewereentirel
随机试题
患者,男性,26岁,24年来尿频、尿急、尿痛,有时尿混浊,伴终末血尿,一般抗生素无效。尿液检查:脓球40~50个/HP,红细胞20~30个/HP,蛋白(+)。该病人经检查,诊断“左肾结核”,住院后体检:双肾未触及,肾区无压痛及叩击痛。最可能的发现是
某城镇西部为低丘陵地貌,南部邻海,东部与内陆某省接壤,邻海岸线有一段沙滩海岸,沙质细软、干净,每年大部分时间风和日丽、风平浪静。另有一段礁石海岸,其余大部分海岸水文条件良好,适宜作深水码头。该城镇体系内有多个城镇,其中A为中心城市,人口约,100
在弗里德曼的货币需求函数中,与货币需求成负相关关系的因素有()。
因旅行社过错造成旅游者误机,旅行社应()。
下列各项与“长风破浪会有时,直挂云帆济沧海”所蕴含的哲理相一致的是()。
心理学家通常把教师期望的预言效应称为()
根据以下资料,回答问题。2012年年末全国公路总里程达423.76万公里,比上年末增加13.11万公里。公路密度为44.14公里/百平方公里,比上年末提高1.37公里/百平方公里。按行政等级划分:国道17.34万公里、省道31.21万公里、县道5
卢梭在《论人类不平等的起源和基础》中说道:“我认为,在人类的一切知识中,最有用但也最不完善的知识就是关于人的知识。”马克思的唯物史观破解了人是什么这一“司芬克斯之谜”。马克思在《关于费尔巴哈的提纲》中指出,人的本质在其现实性上是
十一届三中全会之后,标志着中国共产党指导思想上拨乱反正的胜利完成的是()
Knowledgeislikethespringwaterunderground;______(挖的越深,水就越清澈).
最新回复
(
0
)