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

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