[经济学]29 monetary_system.pptVIP

29 The Monetary System 货币系统 Learning Objectives what money is and what functions money has in the economy.什么是货币，货币在经济中的职能 what the Federal Reserve System is.联邦储备系统 how the banking system helps determine the supply of money.银行体系如何有助于决定货币供给 what tools the Federal Reserve uses to alter the supply of money.联储用什么工具来改变货币供给 KEY POINTS The term money refers to assets that people regularly use to buy goods and services. 货币这个词是指人们经常用来购买物品与劳务的资产。 Money serves three functions. As a medium of exchange, it provides the item used to make transactions. As a unit of account, it provides the way in which prices and other economic values are recorded. As a store of value, it provides a way of transferring purchasing power from the present to the future. 货币有三种职能：作为交换媒介，它提供用于进行交易的东西；作为计价单位，它提供记录价格和其他经济价值的手段；作为价值储藏，它提供把购买力从现在转移到未来的方式。 Commodity money, such as gold, is money that has intrinsic value: It would be valued even if it were not used as money. Fiat money, such as paper dollars, is money without intrinsic value: It would be worthless if it were not used as money. 像黄金这样的商品货币是有其内在价值的货币：即使它不作为货币也有其价值。像纸币这样的法定货币是没有内在价值的货币：如果它不作为货币就没有价值。 KEY POINTS In the U.S. economy, money takes the form of currency and various types of bank deposits, such as checking accounts. 在美国经济中，货币以现金和其他各类银行存款，例如支票帐户的形式存在。 The Federal Reserve, the central bank of the United States, is responsible for regulating the U.S. monetary system. The Fed chairman is appointed by the president and confirmed by Congress every four years. The chairman is the lead member of the Federal Open Market Committee, which meets about every six weeks to consider changes in monetary policy. 联邦储备，即美国的中央银行，负责管理美国的伙伴制度。美联储主席每隔4年由总统任命并得到国会确认，他是联邦公开市场委员会的领导人。联邦公开市场委员会约每6周开一次会，考虑货币政策的变动。 KEY POINTS The Fed controls the money supply primarily through open-market operations. The purchase of government bonds increases the money supply, and the sale of government bonds decreases the money supply. The Fed can also expand the money supply by low