10:05 1l ? 4 g Assignment Details Spr24_ECON-101_32801 Principles of Macroeconomics pescription CHAPTER 14 ASSIGNMENT 1. What are the three basic functions of money? Describe each function in detail. 2. Answer and Explain each of the following qguestions in detail: A. What \"backs\" the money supply in the United States? B. What determines the value (domestic purchasing power) of money? C. How does the purchasing power of money relate to the price level? D. Who in the United States is responsible for maintaining money's purchasing power? 3. What are the seven functions of the Federal Reserve and which function(s) does the Fed use to indirectly control the money supply? explainin detail. List and explain. Submit Assignment