经济lectur4货币政策美中央银行控制供应.pdfVIP

M ARY Federal Reserve (Centra ) controls money supply. M ARY The money supply can/does influence price levels Inflation occurs if the money supply reases, ceteris paribus. Deflation occurs if the money supply decreases, ceteris paribus. Dollar NOT backed by gold! 1)Up until 1935, citizens could redeem $ in gold @ a rate of $20.67per ounce. 2)From 1935 to 1968, the US redeemed $ held by foreigner