The concept of equivalence helps in understanding how different sums of money at different times are equal in economic terms Select one: O True O False
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- The difference between M1 and M2 is given bywhich of the following?a. M1 includes currency, coins, gold, and silver,whereas M2 does not contain gold and silver.b. M1 is made up of currency and checkabledeposits, whereas M2 contains M1 plus savingsdeposits and small time deposits.c. M1 is limited to checkable deposits, whereasM2 contains currency.d. M1 includes only currency, whereas M2contains M1 plus checkable deposits.Which of the following are considered money in theU.S. economy? Which are not? Explain your answersby discussing each of the three functions of money.a. a U.S. pennyb. a Mexican pesoc. a Picasso paintingd. a plastic credit cardMartin Shrood purchased a vacant lot outside of London for £13,500, because he heard that a shopping mall was going to be built on the other side of the road. He figured that he could make a bundle by puttingin a fast-food outlet on the site. As it turned out, the rumor was false. A sanitary landfill was located on the other side of the road, and Martin’s land was worthless. (£ denotes the British monetary unit, pounds sterling.)*Required: With respect to the economic characteristics of costs, what type of cost is the £13,500 that Martin paid for the vacant lot?
- Let's pretend that our current system of money was strictly Base Ten, so that the only currency that we used were pennies, dimes, one dollar bills, ten dollar bills, hundred dollar bills, thousand dollar bills and so on. Instead of drawing pictures of the money, these abbreviations for each kind of coin or bill will be used: penny (A), dime (B), one dollar bill (C), ten dollar bill (D), hundred dollar bill (E), thousand dollar bill (F), and so on.Form each sum by combining the two addends into one lump. Make exchanges as necessary so that the sum is represented by the least number of coins or bills. Write your answer for each in alphabetical order with no spaces or commas. AABCCDD + AAABBBBBBBBBC = ACCCCCCEEE + AAAABBCCCCCCCCC = AAAAAAEEEEEE + AAAAEEEEEEEE =1. Let's pretend that our current system of money was strictly Base Ten, so that the only currency that we used were pennies, dimes, one dollar bills, ten dollar bills, hundred dollar bills, thousand dollar bills and so on. Instead of drawing pictures of the money, these abbreviations for each kind of coin or bill will be used: penny (A), dime (B), one dollar bill (C), ten dollar bill (D), hundred dollar bill (E), thousand dollar bill (F), and so on. Since you are entering the teaching profession, you probably won't need to handle anything higher than a thousand dollar bill, but who knows what the future holds? Write down the exchange that could be made for each of the following:a. AAAAAAAAAA = b. CCCCCCCCCC = c. EEEEEEEEEE = d. AAAAAAAAAA = e. CCCCCCCCCC = f. DDDDDDDDDD = a. AAABBCDD + AABBBBBBBBCC = b. ACCCCCCCEE + AAAABBCCCCCCCC = c. AAAAAAAAAEEE + AAAAAAAAEEEEEEE = 2. Let's pretend that our current system of money was strictly Base Ten, so that the only currency that we…II. Concentrate on any valid definition of money to answer the following scenarios logically; a. If you have 20 notes of prize bonds, each has the worth of Rs. 1500/- , can we term these prize bonds as money? If YES then how, and if NO then why? If you regularly purchase Pepsi for that you pay Rs. 100 per bottle. After taking the drink out of that, if you have 50 empty bottles at your home now, can we term these bottles as money as because you have spent money for these too? If yes then how and if no then why? c. If you have the currency note of Rs. 5 in your pocket which was used in the past. Can we say that this is money today too? If yes then how and if no then why?
- Money is considered to be commodity or unit of exchange? What arethe important functions of money explain briefly? How to relate it with yourPakistani society?What are the components of the M1 money supply ? what is the largest component ?which of the components of M1is legal tender? why is the face value of a coin greater than it's interinsic value ? what near- monies are included in the M2 money supply ? How does the purchasing power of the dollar relate to the nations's price level?a) Suppose that Tk.10,000 in new taka bills (never seen before) falls magically from the sky into your hands. What are the minimum increase and the maximum increase in the money supply that may result? Assume the required reserve ratio is 10 percent. Explain in details.b) Suppose you receive Tk. 10,000 from your grandmother and deposits the money in a saving account. your grandmother gave you the money by writing a check on her saving account. Would the maximum increase in the money supply still be what you found it to be in part a) where you received the money from the sky? Why or why not? Explain in details. c) Suppose that instead you getting Tk. 10,000 from the sky or a check through your grandmother, you get the money from your mother who had buried it in a can in her backyard. In this case, would the maximum increase in the money supply be what you found it to be in part a)? Why or why not? Explain in details.
- i. What are the necessary conditions for something to be considered money? Does Bitcoin satisfy these conditions? ii. What are the advantages and disadvantages of El Salvador adopting Bitcoin as legal tender? iii. What share of Salvadorans have access to the internet? How might that affect the use of Bitcoin as a currency? iv. The U.S. already has several ways to make digital transactions, for example, credit/debit cards, Venmo, Zelle, PayPal, and so on. How would a digital currency increase efficiency? v. Many early cryptocurrency investors have adopted a strategy known as HODL—Hold On for Dear Life. They believe that over time the value of cryptocurrencies, such as Bitcoin, will only continue to rise. If this is a dominant strategy among most investors, how does this affect cryptocurrencies’ ability to function as a currency?a) Suppose that Tk.10,000 in new taka bills (never seen before) falls magically from the sky into your hands. What are the minimum increase and the maximum increase in the money supply that may result? Assume the required reserve ratio is 10 percent.b) Suppose you receive Tk. 10,000 from your grandmother and deposits the money in a saving account. your grandmother gave you the money by writing a check on her saving account. Would the maximum increase in the money supply still be what you found it to be in part a) where you received the money from the sky? Why or why not? c) Suppose that instead you getting Tk. 10,000 from the sky or a check through your grandmother, you get the money from your mother who had buried it in a can in her backyard. In this case, would the maximum ncrease in the money supply be what you found it to be in part a)? Why or why not?a) Suppose that Tk.10,000 in new taka bills (never seen before) falls magically from the sky into your hands. What are the minimum increase and the maximum increase in the money supply that may result? Assume the required reserve ratio is 10 percent.b) Suppose you receive Tk. 10,000 from your grandmother and deposits the money in a saving account. your grandmother gave you the money by writing a check on her saving account. Would the maximum increase in the money supply still be what you found it to be in part a) where you received the money from the sky? Why or why not?c) Suppose that instead you getting Tk. 10,000 from the sky or a check through your grandmother, you get the money from your mother who had buried it in a can in her backyard. In this case, would the maximum increase in the money supply be what you found it to be in part a)? Why or why not?