Discussion questions ( only for Dr.nicmus)

Make sure to add real life examples for each one . there 9 discussion questions below define each correctly and then add real life examples for each so you can make the connection 1. There are three functions of money. 2. Money in the USA is backed by gold and silver. 3. The influence that FED policies have on excess reserves makes a difference. 4. The primary purpose of the FOMC is to enforce bank regulations and the cyclical asymmetry of monetary policy is of no concern to the FOMC. 6. What if I was a coaching football again, in a small town in Idaho, and had a player who was faster than anyone on the team–could throw the ball farther and more accurately than anyone on the team–does a better job of blocking and is a great tackle–had an*absolute advantage* in almost every position in football. Given this information only it is obvious this player should be the quarterback? (Use the concept of *comparative advantage* in your response.) 7. International trade tends to equalize prices of goods and services around the world. 8. I could compute and explain the real difference in GDP between two time periods of my choice. 9. The Federal Funds rate is the interest rate banks charge each other. 10. Commercial Banks can create money.