MGMT 1 Chapter Notes - Chapter 20: Telephone Card, International Monetary Fund, World Bank
Document Summary
20: money, financial institutions and the federal reserve. Money: anything that people generally accept as payment for goods and services. Barter: direct trading of goods or services for other goods or services. Barter system: place goods into system and get trade credits for other goods and services that you need. Money supply: amount of money federal reserve bank makes available for people to buy goods and services. M-1: money that can be accessed quickly and easily. Coi(cid:374)s a(cid:374)d pape(cid:396) (cid:373)o(cid:374)ey, (cid:272)he(cid:272)ks, t(cid:396)a(cid:448)ele(cid:396)"s (cid:272)he(cid:272)ks. M-2: money included in m-1 plus money that may take a little more time to obtain. Savings accounts, money market accounts, mutual funds, certificates of deposit. M-3: m-2 plus big deposits like institutional money market funds. Falling dollar value: amount of goods and services you can buy with dollar decreases. Rising dollar value: amount of goods and services you can buy with dollar goes up.
