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Unformatted text preview: Business tax rates (-) d. Business Confidence (expectations) i. Expected business cycle changes (+) ii. “Animal spirits” (+) C. Saving and Investment: Examples D. Money: Introductory comments 1. Market economy 2. Money vs. income vs. wealth E. Money: the basics 1. Definitions 2. Five functions a. Means of payment i. Medium of exchange ii. Means of unilateral payment b. Unit of account c. Standard of value d. Store of value e. Standard of deferred payment III: NEXT TIME A. Continue Chapter 10: “Money, Prices, and the Fed”...
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- Spring '06
- Monetary Policy, Capital accumulation, SUBSTANCE A. Saving