What is fiat money? Is the U.S. dollar fiat money? Are cryptocurrencies fiat money? What counts as M1 and M2 when it comes to the money supply? What are bank runs and how is deposit insurance designed to prevent runs from occurring? Can you think of a bank that recently experienced a bank run? What is the limit the FDIC will insure up to for checking and savings accounts? What is moral hazard and how is it caused by programs like deposit insurance? Given the idea of moral hazard, do you think deposit insurance help reduce systemic risk or cause more of it?
What is fiat money? Is the U.S. dollar fiat money? Are cryptocurrencies fiat money? What counts as M1 and M2 when it comes to the money supply? What are bank runs and how is deposit insurance designed to prevent runs from occurring? Can you think of a bank that recently experienced a bank run? What is the limit the FDIC will insure up to for checking and savings accounts? What is moral hazard and how is it caused by programs like deposit insurance? Given the idea of moral hazard, do you think deposit insurance help reduce systemic risk or cause more of it?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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What is fiat money? Is the U.S. dollar fiat money? Are cryptocurrencies fiat money? What counts as M1 and M2 when it comes to the money supply? What are bank runs and how is deposit insurance designed to prevent runs from occurring? Can you think of a bank that recently experienced a bank run? What is the limit the FDIC will insure up to for checking and savings accounts? What is moral hazard and how is it caused by programs like deposit insurance? Given the idea of moral hazard, do you think deposit insurance help reduce systemic risk or cause more of it?
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