Briefly explain whether each of the following is counted in M1. 1)The coins in your pocket 2) The funds in your checking account 3)The funds in your savings account 4)Bitcoin in your mobile wallet 5) Your Citibank Platinum MasterCard
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- Answer in step by step with explanation. Don't use Ai and chatgpt. Answer in all options provided.1.4 Suppose you transfer $4,000 from your money market mutual fund account to your checking account. What is the immediate impact of this transfer on M1 and M2? 1.5 Why do banks create money? Do they create money to help the Federal Reserve control the money supply or is there a more basic reason? 1.6 Suppose that the required reserve ratio is 2 percent, and you deposit $100,000 of currency into Chase Bank. What is the potential increase in deposits in the banking system brought about by your deposit? What is the potential change in the money supply?The economy of Quarterville currently has a level of M1 equal to $49,000. If there are $38,000 worth of savings deposits, $89,000 worth of money market funds, and $32,000 worth of time deposits in Quarterville, calculate M2:
- What are the three functions of money in an economy? How does Bitcoin measure up to each standard? What will it take for Bitcoin to be used as a currency? What obstacles are there? If Bitcoin were able to be used for currency at most stores or taken for payment online, would you be more likely to use it? Why or why not? Since online and digital transactions are now commonplace, why would Bitcoin (or another cryptocurrency) be needed for everyday use? Doesn't Apple Pay, PayPal or Google Pay do the same things? How are they different? Do you feel it has a place as an alternative to traditional currencies or is it just a speculative asset? And finally, if Bitcoin is a 'currency' - is it like Yen? Or Euros? Or the Dollar? How is it different?FRONT PAGE ECONOMICS The FTX Collapse In a mere 10 days, $32 billion vanished into thin air. That was the market value on November 8, 2022, of the cryptocurrency exchange company called FTX. FTX had an exchange platform that handled customer purchases and sales of cryptocurrencies, including its own FTT. Like Bitcoin, FTT was a cryptocurrency that could be used to transfer money, make purchases, or be held as wealth. Or so people thought. In reality, a lot of money deposited into FTX customer accounts was being diverted into the personal accounts of the company's owner and key associates. When customers wanted to withdraw their deposits, the cupboard was bare. On November 11, 2022, FTX filed for bankruptcy. The price of an FTT token fell from $24 on November 8 to $1.27 on November 23. Thousands of FTX customers and investors lost millions of dollars, including celebrities like Tom Brady, Steph Curry, and Naomi Osaka. The University of California football team and the Miami Heat also…Suppose First Main Street Bank, Second Republic Bank, and Third Fidelity Bank all have zero excess reserves. The required reserve ratio is 25%. The Federal Reserve buys a government bond worth $1,800,000 from Felix, a customer of First Main Street Bank. He deposits the money into his checking account at First Main Street Bank. Now, suppose First Main Street Bank loans out all of its new excess reserves to Deborah, who immediately writes a check for the full amount to Carlos. Carlos then immediately deposits the funds in his checking account at Second Republic Bank. Then Second Republic Bank lends out all of its new excess reserves to Larry, who writes a check to Janet, who deposits the money in her account at Third Fidelity Bank. Finally, Third Fidelity lends out all of its new excess reserves to Megan. Assume this process continues, with each successive loan deposited into a checking account and no banks keeping any excess reserves. Under these assumptions, the $1,800,000 injection…
- Q12. The following is hypothetical financial information about the US economy. What is M1 and M2? Items Amounts owed on credit cards Amount $279 billion Traveler's checks held by the public Savings deposits $38 billion $400 billion Credit limits on credit cards $514 billion Bills and coins in circulation $615 billion Checking account deposits $905 billion Small time deposits $2,321 billion Mutual funds held by public $2,956 billion M1 is $1,958 billion and M2 is $7,235 billion. M1 is $1,558 billion and M2 is $7,235 billion. M1 is $1,958 billion and M2 is $7,514 billion. M1 is $1,558 billion and M2 is $7,514 billion.a) Define M1 and M2 using the definition of money supply in Hong Kong. b) Suppose you buy $300,000 ibonds from the Hong Kong government, in which $200,000 are financed by your cash, and $100,000 are paid by writing a cheque. Explain the impact on M1 and M2 using the definition of money supply in Hong Kong. c) Explain in terms of the three functions of money, how cigarettes could be called "money" in prisoner-of-war camps of World War II.For each of the following, identify whether the money is fulfilling the role of medium of exchange, store of value, or unit of account. 1. Kurt pays $3 at a toll booth 2. Your grandmother put $1,000 into a savings account for you when you were born 3. It costs $109 to buy the same basket of groceries that previously cost $100 4. Kristi pays $12 to see the newest Fast and Furious movie 5. Dave puts $50 under his mattress 6. One pound of steak costs $10 and 3 pounds of chicken does as well
- Despite the emerging trends on the use of cryptocurrency, economics research so far has provided little insight into the economic relevance of cryptocurrencies. According to your knowledge on money, discuss how well a cryptocurrency can serve as a means of payment.I am not sure how to even begin this problem.1) Suppose your bank raises its minimum-balance requirement for free checking on checking accounts by $500. You take $500 out of your passbook savings account and put it in your checking account. What is the overall effect on M1 and M2? A) M1 rises by $500, M2 falls by $500. B) M1 is unchanged, M2 is unchanged. C) M1 rises by $500, M2 is unchanged. D) M1 is unchanged, M2 falls by $500. 2) You are putting together a portfolio of assets. The four most important characteristics of the assets you will choose are expected return, time to maturity, A) risk, and liquidity. B) risk, and collateral C) risk, and reward. D) liquidity, and standard issue size. 3) Compared with money, bonds have A) less risk and less liquidity. B) less risk and more liquidity. C) more risk and less liquidity. D) more risk and more liquidity. 4) An increase in the real interest rate would cause an increase in the real demand for money A) no matter what the change in expected inflation. B) if expected inflation fell…
