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May 21, 2020

Define money and describe its functions

Prior to beginning work on this discussion, read Alejandro Chafuen’s article, Moralists and Money: From Gold to Bitcoin (Links to an external site.)Links to an external site., and respond to the following components:

Define money and describe its functions. Is money a root of all evil? Why or why not? How are paper money (fiat) and commodity money different? How can paper money be validly used as money? Are credit cards money? Why or why not? Are cryptocurrencies such as Bitcoin, Ethereun, Ripple, Litecoin, Monero, money? Why or why not? Discuss thoroughly. Your initial post should be a minimum of 300 words.

Discussion 2:The Federal Reserve’s Monetary Policy and Its Goals [WLOs: 2, 3, 4] [CLOs: 2, 4] By law the Federal Reserve is required to monitor unemployment and inflation. Respond to the following components: How does the Federal Reserve accomplish these goals?

What are the pros and cons of using contractionary and expansionary monetary policy tools under the following scenarios: recession or depression and robust economic growth? What tool is the most appropriate among the different monetary policy tools available today?

Your initial post should be a minimum of 300 words.

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