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1. Why are modern coins not made of precious metals? 2. Why can't food be used as a form of money? 3. Why don't economists agree with backing paper money with a certain commodity, such as gold? 4. Discuss three major points about what gives money its value. 5. Use the figures in the table below to answer the following questions. Billions Small time deposits $1260 Money-market mutual funds held by businesses 1290 Savings deposits, including money- market deposit accounts 1750 Money-market mutual funds held by individuals 850 Checkable deposits 896 Currency 340 (a) What is the value of M1? (b) What is the value of M2? 6. Cite five recent developments that have affected money and banking worldwide. 7 What are the functions of the Central Bank? Which one is most important? 8. Arrange the following items in the form of a commercial bank's balance sheet, and explain how each might come into being. Stock shares, $300,000; Reserves, $60,000; Property, $290,000; Checkable deposits, $150,000; Securities, $40,000; Loans, $60,0009. Answer the next question based on the following consolidated balance sheet for the commercial M banking system. Assume the required reserve ratio is 25%. All figures are in billions of dollars. Assets Liabilities + Net Worth Reserves $100 Checkable deposits $300 Securities 200 Stock shares 700 Loans 100 OnWDH Property 600 (a) What is the amount of excess reserves in this commercial banking system? (b) What is the maximum amount that the money supply can be expanded? (c) If the reserve ratio fell to 20%, what is now the maximum amount that the money supply can be expanded? OnWDN 10) Over the years, the Federal Reserve Banks have printed many billions of dollars more in currency than American households, businesses, and financial institutions now hold. Where is this "missing" money? Why is it there? On W DW True / False Questions 4 . A