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Essay / Research Paper Abstract
This 5-page paper discusses the purpose of money, the role of the central bank in determining monetary policy, and the impact of that policy on the economy. Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: AS43_MTmonpolic.doc
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Unformatted sample text from the term paper:
recent monetary policy in the United States. Money - Purpose and Function Mention the word money and what could come to mind are
dollar bills, coins and banks. But dollars, coinage and the banks where these can be obtained are only part of the monetary system - specifically, theyre physical symbols of what
the system is all about. In its most basic sense, money is a medium of exchange, a good that is a unit of
account and a store of value (Moffatt). Money is the recognized unit of account by many nations; a unit that can be exchanged for a particular good or service. The
aspect about money we need to remember is the unit of exchange. Even macaroni could be used for a unit of exchange, if a society wanted to invest value in
it. It should come as no surprise, therefore, that coinage and paper money are fairly recent developments. History has seen a variety of
units of exchange, such as agriculture, beads (wampum) and even gold bars. Barter (i.e., providing one product or service for another) is also a unit of exchange.
However, currency in most countries is considered the viable, "official" unit of exchange of a nation when it comes to buying goods and services. Its easier
to control, for one thing. Its also easier to store (hence the banks). Furthermore, its easier to set values on paper and currency then it is, say, on a bushel
of wheat. The Central Bank and Money Now that we understand the definition of money, we can move onto how a nations central
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