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Handout08 - The Monetary System Slides#08 Intro Macro 1 The...

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The Monetary System Slides #08 July 19 2010 1 Intro Macro
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The Meaning of Money Money Set of assets in an economy That people regularly use To buy goods and services from other people The functions of money Medium of exchange Unit of account Store of value 2 Intro Macro
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The Meaning of Money Medium of exchange Item that buyers give to sellers When they want to purchase goods and services Unit of account Yardstick people use to post prices and record debts Store of value Item that people can use to transfer purchasing power From the present to the future 3 Intro Macro
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