Prior to beginning work on this discussion, read Alejandro Chafuen’s article, Moralists and Money: From Gold to Bitcoin (Links to an external site.)Links to an external site., and respond to the following components:
- Define money and describe its functions.
- Is money a root of all evil? Why or why not?
- How are paper money (fiat) and commodity money different? How can paper money be validly used as money?
- Are credit cards money? Why or why not?
- Are cryptocurrencies such as Bitcoin, Ethereun, Ripple, Litecoin, Monero, money? Why or why not? Discuss thoroughly.
- Your initial post should be a minimum of 300 words.
The Federal Reserve’s Monetary Policy and Its Goals [WLOs: 2, 3, 4] [CLOs: 2, 4]
By law the Federal Reserve is required to monitor unemployment and inflation. Respond to the following components:
- How does the Federal Reserve accomplish these goals?
- What are the pros and cons of using contractionary and expansionary monetary policy tools under the following scenarios: recession or depression and robust economic growth?
- What tool is the most appropriate among the different monetary policy tools available today?
Your initial post should be a minimum of 300 words.