ECO 372 Week 3 Discussion Question 1 - 90394

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What are the uses of money? How do commercial banks and Federal banks create money? Is monetary policy conducted independently in the United States? Explain your answer. Is it important for monetary policy to remain independent from all parties? Why or why not? What are the uses of money? In history, many things have been used as money (barter items), such as salt, cattle, pigs, goats, tobacco, gold, iron, etc. An item serves as money when everyone is willing to take it in exchange. Everyone uses money, we all want it, work for it and think about money. Money is the way we get the things we want and need. Money isn’t just a piece of paper or a coin, it’s a medium of exchange the facilitates trade. If I go to the store, I need a positive amount of funds in my checking about to buy that irresistible sweater...
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What are the uses of money? How do commercial banks and Federal banks create money? Is monetary policy conducted independently in the United States

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