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Unformatted text preview: i. Nothing c. What is Money valuable i. Acceptability ii. Legal tender iii. Relative scarcity d. Prices go up Purchasing power goes down 4. Federal Reserve Systtem a. Historical Backround b. Bord of gove3renors c. 12 Fredearl Reserve Banks i. Sere as the entral bank ii. Quasi-public banks iii. Bankers Bank d. Federal Open Market Committee i. Aids bord of governors in setting monetary policy ii. Conducts open market operations e. Issue Currency 5. 60% of US currency is owned by public 6....
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- Spring '11
- small time deposits, Fredearl Reserve Banks