The primary reason that central banks exist, the Federal Reserve included, is that an economy might need

Multiple assets are considered money but others, like stocks and bonds, are not.  What ultimately determines whether an asset is money?

Say you pay $50 for soccer tickets to attend the Houston Rodeo.  This is an example of what function of money?

A change in the monetary base

The Fed’s primary monetary liabilities is called the _____ and consists of ______ and ______. 

One of the functions of money is that it serves as a store of value.  In the U.S., we are reasonably confident that a $20 bill will buy the same quantity of goods one month from now as it will today.  However, it is not a perfect store of value.  Why?

What would happen if a society changed from a barter economy to a monetary economy?

A person’s wealth typically consists of lots of different assets and some of those assets are considered money.  Money is unique in that  

Your textbook describes what’s know as “instrument independence” with respect to monetary policy.  To what does this refer?  

Most U.S. financial crises have started during periods of ________ either after the start of a recession, a stock market crash, or the failure of a major financial institution.