Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter13: Money And The Banking System
Section: Chapter Questions
Problem 15CQ
Related questions
Question
a) Define M1 and M2 using the definition of money supply in Hong Kong.
b) Suppose you buy $300,000 ibonds from the Hong Kong government, in which $200,000 are financed by your cash, and $100,000 are paid by writing a cheque. Explain the impact on M1 and M2 using the definition of money supply in Hong Kong.
c) Explain in terms of the three functions of money, how cigarettes could be called "money" in prisoner-of-war camps of World War II.
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