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| Topic: |
Business
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| Number of pages / Number of words: |
8 / 2050 |
Essay's paper body
The vast bulk of the money created in the process consists of bank balances. Only a tiny percentage involves the printing of currency, which is done by the Treasury's Bureau of Engraving and Printing†(NCPA, n.d.). Only a small portion of U.S. money is in the form of bills or coins; the vast majority exists only as electronically in computers...
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“But to serve as money, an item needs to pass only one test: It must be generally acceptable to sellers in exchange for their goods and services†(McConnell & Brue, 2005, p. 64). The amount of money in the system may begin with the Fed, the banks or the general public, but the main control is the primary responsibility of the Fed...
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