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Question Answers How do you define money? What are the properties of good money? Describe in detail the difficulties that people experienced with the Barter
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- How do you define money? What are the properties of good money?
- Describe in detail the difficulties that people experienced with the Barter Trade before the adoption of today's monetary system.
- What are the functions of the Federal Reserve Board? Explain each of them.
- What is the difference between discretionary and non-discretionary spending? Explain giving examples.
- What are the characteristics of easy and tight money policies? How does the Fed implement such policies?
- What are the characteristics of expansionary and contractionary fiscal policies? How does the Government implement such policies?
- Explain the difference between Federal Funds and Discount Loans.
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