MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
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Question
Chapter 14, Problem 9SQ
To determine
The part of M2 money supply.
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Could each of the following items potentially serve as money? Consider each as a medium of exchange, a unit of account, or a store of value.
A. Visa credit card
B. Federal Reserve note
C. Debit card
D. Picasso painting
Determine whether each of the following is included in both M1 and M2 or M2 only:
a. a Connecticut quarter
b. a savings account at a local savings bank
c. a share draft account at a credit union
d. money market deposit accounts
e. American Express travelers’ checks
If raw whole eggs of uniform size were used as money, which of the following functions of money would be the hardest for this to satisfy?
Select one:
a. store of value
b. unit of account
c. medium of exchange
d. certificate of gold
Chapter 14 Solutions
MACROECONOMICS FOR TODAY
Ch. 14.1 - Prob. 1GECh. 14.1 - Prob. 2GECh. 14.4 - Prob. 1YTECh. 14.5 - Prob. 1YTECh. 14 - Prob. 1SQPCh. 14 - Prob. 2SQPCh. 14 - Prob. 3SQPCh. 14 - Prob. 4SQPCh. 14 - Prob. 5SQPCh. 14 - Prob. 6SQP
Ch. 14 - Prob. 7SQPCh. 14 - Prob. 8SQPCh. 14 - Prob. 9SQPCh. 14 - Prob. 10SQPCh. 14 - Prob. 1SQCh. 14 - Prob. 2SQCh. 14 - Prob. 3SQCh. 14 - Prob. 4SQCh. 14 - Prob. 5SQCh. 14 - Prob. 6SQCh. 14 - Prob. 7SQCh. 14 - Prob. 8SQCh. 14 - Prob. 9SQCh. 14 - Prob. 10SQCh. 14 - Prob. 11SQCh. 14 - Prob. 12SQCh. 14 - Prob. 13SQCh. 14 - Prob. 14SQCh. 14 - Prob. 15SQCh. 14 - Prob. 16SQCh. 14 - Prob. 17SQCh. 14 - Prob. 18SQCh. 14 - Prob. 19SQCh. 14 - Prob. 20SQ
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Similar questions
- The table below shows hypothetical values, in billions of rands, of different forms of money. A. B. C. D. E. F. G. H. Currency Money market mutual fund shares Saving account deposits Money market deposit accounts Demand and checkable deposits Small-denomination time deposits Traveler's checks 3-month Treasury bills 2017 950 677 5,600 1,200 1,010 830 4 1,996 2018 960 678 5,880 1,231 982 861 4 2,384 2019 962 676 6,068 1,260 990 1,123 3 2,446 2020 967 685 6,205 1,315 1,003 1,566 2 2,512 Use the table to calculate the M1 and M2 money supplies for each year, as well as the growth rates of the M1 and M2 money supplies from the previous year.arrow_forwardWhich of the following is NOT included as M1 money? A. Currency B. Travelers checks C. Demand deposits D. All of the above are included as M1 moneyarrow_forwardThe monetary system in any economy facilitates trade and allows people to trade more efficiently, as compared to a barter economy. In the united states the monetary authority is the federal reserve system what are the requirements for something to be considered money? Why does the dollar have value?arrow_forward
- The First National Bank of Townville has $125,000 in U.S. government securities, $200,000 in savings accounts, $300,000 in checking accounts, $50,000 in its reserve account at the Fed, $10,000 of currency in its vault, and loans of $250,000. What is the amount of its reserves? Show your calculations.arrow_forwardExplain each of the following types of deposit accounts: a.demand deposit b.certificate of deposit c.money market demand accountarrow_forward
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