Chapter 10.pdf - Chapter 10 1 Money is used as a method of trade and transaction 2 there are a large number of stones and they are hard to forge Heavy

Chapter 10.pdf - Chapter 10 1 Money is used as a method of...

This preview shows page 1 - 3 out of 3 pages.

Chapter 10 1: Money is used as a method of trade and transaction. 2: there are a large number of stones and they are hard to forge Heavy and not convenient 3: Keeping face value can be bought now or something can be bought at a later time 4: Limited Supply, otherwise it would hold no value 5: Token - metal that's used is less than the face value of the coin 6: FIAT money 7: you trust that others will accept it, Limited supply of money 8: FIAT money 9: they provide multiple services 10: Monetarist. Money supply was the cause of inflation Review 10A 1: Legal Tender 2: A means of payment for goods and services, a measure of value, and a means of storing purchase power. 3: Convenience, portability, divisibility, durability and stability. 4: Commodity money, representative money, and fiat money. 5: M-1 comprises paper currency, coins, traveler's checks, and checking accounts; M-2 comprises a variety of saving accounts and M-1.
Image of page 1
Review 10B 1: There are banks regulated by state charters and banks regulated by national charters.
Image of page 2
Image of page 3

You've reached the end of your free preview.

Want to read all 3 pages?

  • Fall '19

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes