宏观经济学——货币制度.pptVIP

货币制度 主动学习 1 银行与货币供给 主动学习 1 参考答案 主动学习 1 参考答案 * Money is a medium of exchange. That just means you use money to buy stuff. Money is a unit of account. The price or monetary value of virtually everything is measured in the same units – dollars (in the U.S., or substitute your country’s currency if you’re located outside the U.S.). Imagine how hard it would be to plan your budget or comparison shop if sellers each used their own system of measuring prices. Money is a store of value. Money holds its value over time, so you don’t have to spend it immediately upon receiving it. * Intrinsic value means the commodity would have value even if it weren’t being used as money. In the film “The Shawshank Redemption,” prisoners use cigarettes as money. Fiat money is worthless – except as money. Yet, people are happy to accept your dollars (or euros or yen or whatever) because they know that they will be able to spend them elsewhere. * The definition of currency in the textbook does not include “(non-bank)”. I added it to avoid confusion later, when students are asked to think about what happens to the money supply when a consumer decides to deposit a $50 bill into his or her checking account. * Source: Federal Reserve, Board of Governors, Statistical Release H.6. The latest H.6 release can be found at: /releases/h6/Current/ * Segue from last slide: The Fed controls the money supply and regulates banks. Banks clearly play an important role in the money supply because bank deposits are part of the money supply (recall that M1 includes checking account deposits, and M2 also includes savings account deposits). In the interests of parsimony, I have combined the definitions of “fractional reserve banking system” and “reserves,” as shown in the first bullet point. I believe it is sufficient to convey the meaning of both terms. * Deposits are liabilities to the bank because they represent the depositors’ claims on the bank. Loans are an as