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Macroeconomics: Principles & Policy
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Chapter 12 / Exercise 7
Macroeconomics: Principles & Policy
Baumol/Blinder
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Reference:
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Macroeconomics: Principles & Policy
The document you are viewing contains questions related to this textbook.
Chapter 12 / Exercise 7
Macroeconomics: Principles & Policy
Baumol/Blinder
Expert Verified
Explanation: Type: Essay Difficulty: Medium Category: Understand3. Identify and briefly explain the three specific functions of money that economists have identified.
Reference: Explanation: Type: Essay Difficulty: Medium Category: Apply4. Briefly describe the items that are included in the M1 definition of money.
Reference: Explanation: Type: Essay Difficulty: Easy Category: Understand5. Briefly describe the items that are included in the M2 definition of money.
Reference: Explanation: Type: Essay Difficulty: Easy Category: Understand6. Briefly explain how macroeconomic policies concerning money are generally conducted and identify and briefly discuss two key messages relating to M1 and M2 and the banking system in the modern economy.
Reference: Explanation: Type: Essay Difficulty: Medium Category: Understand7. Briefly explain the role played by banks between savers and borrowers and the economic benefit, if any, derived from their taking on this role.
Reference: Explanation: Type: Essay Difficulty: Medium Category: Understand8. Briefly describe how banks periodically evaluate their financial condition, includinga description of the tool used in this process.

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