Unit 6 – Money, Banking, and the Fed Chapter 14.1 – The evolution, functions, and characteristics of money Federal Reserve System (Fed) – private owned, publicly controlled central bank of the united states Federal reserve note – paper currency issued by the Fed in use today The evolution of money Barter economy – moneyless economy…
For me many a times I think value is more important than money, but am not so sure if that is true in today’s world. Things have changed and everything is related to money, think about it……. What makes more friends? “MONEY”, who will like to be a friend of a poor person or a…
The nation’s economic stability has many factors which amount to inflation. Inflation may be caused by a number of problems, but there are some specific examples which have direct control over which way the prices and spending sway. Inflation simply means that the American dollar, in this case, is less valuable on the foreign exchange…
Since the beginning of time people have bartered, which is an exchange of goods and services for other goods and services. However, for those who couldn’t agree what something was worth in exchange or if one party does not want what the other party has, a new system had to be created. This system is…