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What distinguishes money from other assets in the economy? (a) What is commodity money? What is fiat money? Which kind is used in the United

What distinguishes money from other assets in the economy?

(a) What is commodity money? What is fiat money? Which kind is used in the United States?

(b) Why don't banks hold 100 percent reserves? How is the amount of reserves banks hold related to the amount of money the banking system creates?

(c) What are required reserve ratios? What happens when the Fed raises reserve requirements?

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