Kenneth R. Szulczyk
- Why is liquidity important in defining the money supply for a country with sophisticated
financial markets? - Define monetary policy.
- Which three variables of the economy can central banks influence?
- Please define the following terms: inflation, gross domestic product, and interest rates.
- Identify the difference between real and nominal.
- Which problems does a barter economy suffer from?
- How do the functions of money overcome the problems associated with barter?
- What is seigniorage?
- Distinguish between the different payment systems.
- Distinguish between the transaction approach and liquidity approach of defining the money
supply. - Identify the differences between M1, M2, M3, and L.
- Judge whether credit cards should be a form of money.