ECO372 Week 3 Discussion Question 1

Question: #1594

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?

Solution: #1579

ECO372 Week 3 Discussion Question 1

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,...