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
32
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.
【8】
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
token
解析
转载请注明原文地址:https://kaotiyun.com/show/iqpO777K
0
专业英语八级
相关试题推荐
Scientistsclaimthatairpollutioncausesadeclineintheworld’saverageairtemperature.Inordertoprovethattheory,eco
AgricultureinBritainI.Britishagricultureanditssupportingareas:accountforaround(1)______ofGNP.II.Smallpercentage
WhichofthefollowingisNOTthecharacteristicofa"languagehotspot"?
TheCostofNaturalDisastersI.ExamplesofrecentnaturaldisastersA.earthquakeinJapanandNewZealandB.floodinThailan
HundredsofthousandsofillegalimmigrantswhocametotheUnitedStatesaschildrenwillbeallowedtoremaininthecountryw
WritingEffectiveSurveyQuestionsI.ForquantitativedataA.Makinganoutlineofissueswith(1)______,concretethoughts(1)_
"Corpse"originallymeantthehumanbody.Nowitmeansadeadbody.Thisisacaseof
Thedayswhenjournalismwaslimitedtoobtainingpressbriefingsandwritingfirsthandaccountofhappeningsinthe【M1】______
ThefounderofBehaviorismis______.
InAmericanliterature,the18thcenturywastheageoftheEnlightenment.______wasthedominantspirit.
随机试题
单相桥式整流电路接电阻负载,已知变压器副边电压μ2=14.1sinωtV,则输出电压平均值UO为________V。
最适宜于监测他克莫司的血液浓度的标本是
A.智力和言语发育大多正常B.三、四岁以前发育正常,之后出现明显的倒退C.持续的注意事物的局部D.手部刻板的扭转动作E.多动、冲动、注意力不集中儿童孤独症的临床表现
某投资项目拟建于北方沿海地区,生产市场急需的某种产品,其财务净现值估算为9000万元;当计算了项目排放废水对海域的影响所造成的价值损失后,估算的经济净现值为-1000万元。政府在核准该项目时,应该()
根据轨道交通线网联络线的分布,控制走廊宽度,地下线可按线路中心线两侧各()m控制。
根据国有资产交易监督管理制度的规定,企业产权转让项目自首次正式披露信息之日起超过6个月未征集到合格受让方的,应当重新履行审计、资产评估以及信息披露等产权转让工作程序。()
国际旅游界将导游员称为()。
数据字典是数据流程图的辅助资料,是数据分析和数据管理的重要工具。
家庭社会工作是社会工作专业的实践领域之一。下列家庭社会工作的说法,正确的是()。[2013年真题]
下列诗句所描写的我国名山大川,按照从北到南的顺序,排列正确的是:①会当凌绝顶,一览众山小②坚冰连夏处,太白接青天③横看成岭侧成峰,远近高低各不同④罗浮山下四时春,卢橘杨梅次第新
最新回复
(
0
)