Money and its Creation
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Money and its Creation

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@SereneCarnelian

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Questions and Answers

What is money primarily used for?

  • To suppress the independence and human potential of the many
  • To consume and satisfy debts
  • To measure and represent the value of something (correct)
  • To achieve economic liberation and universal prosperity
  • What are the four main functions of money?

  • A medium of exchange, a store of debt, a standard of credit, and a common measure of wealth
  • A medium of exchange, a store of value, a standard of value, and a common measure of value (correct)
  • A medium of transaction, a store of debt, a standard of credit, and a common measure of wealth
  • A medium of transaction, a store of property, a standard of ownership, and a common measure of equity
  • According to Louis Kelso, what is money ultimately used for?

  • To suppress the independence and human potential of the many
  • To achieve economic liberation and universal prosperity
  • To measure values used for the exchange of property rights (correct)
  • To consume and satisfy debts
  • Money is primarily used as a yardstick for measuring

    <p>The value of real goods and services</p> Signup and view all the answers

    The main purpose of creating money using commercial banks and a central banking system is to

    <p>Maintain an adequate and stable money supply</p> Signup and view all the answers

    Under a central banking system as originally designed, businesses would obtain loans from

    <p>The local commercial bank</p> Signup and view all the answers

    The money creation powers of the central bank can be used to

    <p>Keep an elite in power</p> Signup and view all the answers

    What would every citizen have an equal right and access to?

    <p>Financial system</p> Signup and view all the answers

    How would the financial system extend credit to every citizen?

    <p>By providing loans with no interest</p> Signup and view all the answers

    What is the role of the Federal Reserve in this program?

    <p>To cancel money created for repaid loans</p> Signup and view all the answers

    What would be the impact of this program on the wealth and income gap?

    <p>It would decrease the wealth and income gap</p> Signup and view all the answers

    Study Notes

    Functions of Money

    • Money is primarily used as a yardstick for measuring
    • The four main functions of money are:

    Money Creation and Central Banking

    • The main purpose of creating money using commercial banks and a central banking system is to
    • Under a central banking system, businesses would obtain loans from
    • The money creation powers of the central bank can be used to

    Louis Kelso's View on Money

    • According to Louis Kelso, money is ultimately used for

    Universal Access to Credit

    • Every citizen would have an equal right and access to
    • The financial system would extend credit to every citizen through
    • The role of the Federal Reserve in this program is to

    Impact on Wealth and Income Gap

    • The implementation of this program would have a significant impact on the wealth and income gap

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    Description

    Test your knowledge about the concept of money and its creation process. Learn about the various forms of money and its role in measuring and exchanging value in the marketplace.

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