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15 cards from this deck
Turn asset to cash easily & quickly without losing value
Physical currency in circulation & checking account balances
Narrow money + wholesale & retail transactions w/ institutions
Money supply increase has multiplier effect on credit available
Money accepted for goods/services, no barter system needed
Standard measure of value to compare goods & services
Money retains value over time for saving & deferred consumption
Money allows credit transactions with future payment
Banks keep fraction as reserves, lend rest, creating new money
Central bank buys long-term securities to increase money supply
MV=PQMV=PQMV=PQ
Money supply
Velocity of money (rate money circulates)
Proportional increase in price level (P), causing inflation
Where quantity of loanable funds demanded = quantity supplied
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