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The 3 functions of money are to serve




21A) The 3 functions of money are to serve: (1) a medium of exchange, (2) a unit of account, and (3) a store of wealth. Briefly explain each of these functions and give an example of each. What attributes of coins and currency (dollars) make it better to use as money than smooth blue stones?;B) The 3 tools for conducing monetary policy are: (1) changing reserve requirements, (2) changing the discount rate, and (3) open market operations. Explain how each of these tools works.


Paper#26904 | Written in 18-Jul-2015

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