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- Should the Federal Reserve take the decision to “create its own digital currency,” which of the following measures of money would such a decision have its greatest impact on? a) M1 b) M2 c) M3 d) Short-term deposits1. a) How do the practices of seigniorage and debasement impact the value of species standard money? b) What is the difference between full-bodied currency, partial-backed currency and fiat currency? c) What are the functions of money?1. All of the following described are attributes of Fiat money except: 1. Money without intrinsic value 2. Used as money because of government decree 3. This note is legal tender for all debts, public and private 4. Paper money backed by gold standard 1. In today's energy markets, oil prices have gone higher due to more demand and smaller supply. Due to these current economic conditions, what do you think the Federal Reserve bank governor of Dallas, Texas (energy region of economy) opinion would be on interest rates? 1. Raise interest rates 2. Lower interest rates 3. Keep interest rates the same
- (a) Given that: Total deposit as of August 2021 in Indonesia = USD 621.2 Billion Total currency in circulation as of August 2021 = USD 93.2 Billion Reserve required as of August 2021 = 2% Total Excess Reserve as of August 2021 = USD 53.2 million From the above information: (i) Calculate the monetary base (ii) Calculate the money multiplier. What will be the total money supply? (iii) Suppose that the Indonesia Central Bank targeted money supply to grow by 3% next year. Suggest any ONE (1) way to achieved the targeted money supply.9. How would you incorporate security considerations/costs into the transactions demand model? What would this imply for the demand for currency in a relatively insecure urban environment (a) compared with a relatively safe one, (b) when owner-identified smart cards become available? Do these factors affect the demand for demand deposits? How would the proportion of currency to demand deposits be affected in these cases? 10. Can the transactions demand model be used to explain why financial innovations in recent decades have reduced the transactions demand for M1? 11. Are transactions demand models useless, as Sprenkle (1969) argued? If they are, how would you explain the demand for M1 or just for demand deposits in the economy?People in Cambodia keep talking about Bitcoin, a crypto currency (electronic currency). Given the function of money and from the point of view of Cambodian, (1) please describe the 3 functions of money (2) given the 3 functions of money, can we regard Bitcoin as money in Cambodia? Please explain your answer (3) Recently, National Bank of Cambodia (NBC) just launched the new system of payment to facilitate the inter-bank payment transfer and business transaction, called “Bakong” and its mobile app. However, Ms. Chea Serey, Director General of NBC reiterated her statement that “the recently-launched Bakong, an interbank blockchain-based payment system, is not a central bank digital currency (CBDC)”. Using the 3 functions of money, explain why Bakong does not qualify as money?
- i. What are the necessary conditions for something to be considered money? Does Bitcoin satisfy these conditions? ii. What are the advantages and disadvantages of El Salvador adopting Bitcoin as legal tender? iii. What share of Salvadorans have access to the internet? How might that affect the use of Bitcoin as a currency? iv. The U.S. already has several ways to make digital transactions, for example, credit/debit cards, Venmo, Zelle, PayPal, and so on. How would a digital currency increase efficiency? v. Many early cryptocurrency investors have adopted a strategy known as HODL—Hold On for Dear Life. They believe that over time the value of cryptocurrencies, such as Bitcoin, will only continue to rise. If this is a dominant strategy among most investors, how does this affect cryptocurrencies’ ability to function as a currency?(b) Examine the effect on money multiplier and money supply when there is a sharp increase in the currency ratio.What are the three functions of money in an economy? How does Bitcoin measure up to each standard? What will it take for Bitcoin to be used as a currency? What obstacles are there? If Bitcoin were able to be used for currency at most stores or taken for payment online, would you be more likely to use it? Why or why not? Since online and digital transactions are now commonplace, why would Bitcoin (or another cryptocurrency) be needed for everyday use? Doesn't Apple Pay, PayPal or Google Pay do the same things? How are they different? Do you feel it has a place as an alternative to traditional currencies or is it just a speculative asset? And finally, if Bitcoin is a 'currency' - is it like Yen? Or Euros? Or the Dollar? How is it different?
- Real-Time Data Analysis Exercise* Two Measures of Money: November 2020 andNovember 2021 *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. Amount (billions of dollars) November 2020 November 2021 The table shows the quantities of M1, M2, and their components in November 2020 and November 2021. M2 18,958.7 21,436.7 Retail money market funds 1,088.8 280.9 997.9 Small time deposits 93.8 17,589.1 2,788.0 M1 20,345.0 In the year to November 2021, M1 grew by percent and M2 grew by percent. Demand deposits Other liquid deposits Currency 4,764.1 >>> Answer to the nearest 1 decimal place. 12,844.2 1,956.8 13,466.3 2,114.6What is the defining difference among our various measures of money supply, such as M1 and M2? The defining difference is origin, whether the money is issued by the Federal Reserve Bank or the Federal Government The defining difference is liquidity, how quickly the instrument could be turned to cash and expended The defining difference is regulation, how much control the Federal Reserve Bank has over the relative amounts of M1 or M2 in circulation The defining difference is function, whether the money is used to meet transactions demand or asset demand1) Which type of money is being used here? Explain briefly. a) Tea bricks (tea leaves pressed together) used between the 9th century and the first World War in China, Mongolia, Russia and Tibet. b) Rye Mark, paper money used by Germany that could be redeemed for a certain amount of rye (a type of grain).