Econ Week 4 DQ 1;The monetary system in any economy facilitates trade and allows people to trade more efficiently, as compared to a barter economy. In the United States, the monetary authority is the Federal Reserve System (also referred to as the Federal Reserve, or informally, as the ?Fed?.);For this assignment, use the information presented in the textbook and the Fed?s website (http://www.federalreserve.gov/) when addressing the questions below.;What are the requirements for something to be considered money? Why does the dollar have value?;What does the money supply consist of and what are the respective amounts in the total money supply for the United States?;What are the primary functions of the Fed? What role does the Federal Open Market Committee (FOMC) play in our economy?;What role do the financial institutions (commercial banks and other institutions) play in our financial system?;What is meant by the term ?fractional-reserve banking? in our system? What are the implications for consumers?;What are the tools available to the FED for controlling the money supply? Which are used most often? Which are most effective?;How does the money multiplier help to determine the effects of monetary policy?;What are the pros and cons of using monetary policy, as opposed to the use of fiscal policy, for implementing economic policies and practices?;Deliverables;Submit an 8-12 page doubled spaced paper in Microsoft Word format;THIS MUST BE 100% ORIGINAL WORK, NO PLAGRISM! IT WILL BE CHECKED!!! REFERENCED IN APA FORMAT IS A MUST ON THE PAPER AND SLIDE SHOW.
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