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Running head: ECONOMICS
1
Problem Set 3
Name
Course
Professor
Date
ECONOMICS
2
Economics
1. Money and Banking
a. Define the following terms
Store of value – this is something which can be a currency, commodity or any other
type of capital that people can use to handover the purchasing power form the present
period to the future.
Automatic Stabilizer- they are tools that are built into the federal budgets meant to
decrease the impact that is brought about by the business cycle.
FOMC- It’s a division of the Federal Reserve Board that is does the role of
determining the direction monetary policies take. The main work it does is giving
directions on the open market operations.
...