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
33
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.
【3】
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
checking accounts
解析
转载请注明原文地址:https://kaotiyun.com/show/dqpO777K
0
专业英语八级
相关试题推荐
AmericanIndianMovement(AIM)isanorganizationdevotedtopromotingculturalawarenessandpoliticalself-determinationforN
WhichofthefollowingisINCORRECT?
WhichofthefollowingisNOTthecharacteristicofa"languagehotspot"?
UsingLyricstoDevelopStudents’CriticalLiteracySonglyricscanbeusedeffectivelyin(1)_____toprovidethevoicesrarely
MakingandWritingWordsI.AbriefintroductionA.Makingwordsisconceptuallyanengagingandeffectiveinstructionaltask.B
TheHundredYears’Warfrom1337to1453happenedbetweenEnglandand
终身教育是指与生命共有外延并已扩展到社会各方面的连续性的教育社区教育是在一定区域内,利用各类教育资源开展的旨在提高社区全体成员整体素质和生活质量,月盼区域经济建设和社会发展的教育活动;二者都具有“全面、全员、完整、持续”等基本特征。对终身教育和社区教育的认
"Corpse"originallymeantthehumanbody.Nowitmeansadeadbody.Thisisacaseof
不同地域、不同时代的情诗,有着多么差异的传统!男女相爱到处都是一样的,但不同的文化表达这种感情似乎各有各的特异方式。诗人也就曾用不同的方式去书写。古希腊、罗马的情诗写得那么暴露、那么热情,致使欧洲文化继承者读之脸红,对传统的中国读者来说,很可能也会如此。对
Bookspossessanessenceofimmortality.Theyarebyfarthemostlastingproductsofhumaneffort.Templesandstatuesdecay,b
随机试题
一切电气设备的金属外壳接地是避免人身触电的保护接地。 ()
30岁女患者,停经70天突然阴道出血,持续了10天,检查见:子宫正常大小,宫颈黏液见典型羊齿叶状结晶,应考虑为
能够影响法的遵守主体遵守法律的因素有()。
背景某高速公路特大桥主桥全长820m(2×50m+9×80m),为变截面预应力连续箱梁桥,分上下游两幅,每幅单箱单室,顶板宽13m底板宽6.5m,箱梁采用长线法台座预制,缆索吊装,悬臂拼装。为加强安全管理,项目部在全桥施工过程中建立了安全生
年所得在12万元以上的个人自行申报纳税时,应当填写《个人所得税纳税申报表》,填写该表时应对各项所得计算年所得。下列关于年所得计算的表述中,正确的是()。
一个国家教育制度的核心是()
通常情况下,划分货币层次的依据是货币资产的()。
ThebestbirthdayI’veeverhadwasmy21st.Myfamilytoldmetheyweregoingto【C1】______meouttodinner,butinfacttheypl
Patientstendtofeelindignantandinsultedifthephysiciantellsthemhecanfindnoorganiccauseforthepain.Theytendto
Targetyesterday【C1】______WallStreetexpectationswhenit【C2】______a21.1percentriseinquarterlyearnings.GainsinTarget’s
最新回复
(
0
)