In the Yap civilization of the South Pacific prior to 1920, large, heavy stones in the shape of a wheel were used as money. Which function of money was probably least served by this form of money?

What are the key differences between how we illustrate an expansionary fiscal policy in the basic aggregate demand and aggregate supply model and in the dynamic aggregate demand and aggregate supply model?

What will be an ideal response?

When the Fed decreases the legal reserve requirement, then the

a. banks must reduce the amount of loans they make b. banks can increase the amount of loans they make c. banks must reduce the interest rate they charge on loans they make d. banks can increase the interest rate they charge on loans they make e. banks must reduce the federal funds rate they charge to other banks