Who’s On The Bills?

What’s on that dollar bill? https://www.youtube.com/watch?v=b81LorUhEbg

THE QUESTION OF THE PENNY

Let’s Take A Closer Look….

Who should be on the $20? Women On the 20 Organization CBS News Report

https://www.nytimes.com/2016/04/21/us/women-currency-treasury-harriet-tubman.html NY TIMES ARTICLE

Back of the new $10: Treasury building replaced w/ depiction of a 1913 women’s suffrage march that ended at the building, w/portraits of these 5 leaders

Back of the new $5: Lincoln Memorial would remain, but as backdrop for 1939 performance there of Marian Anderson, the African-American classical singerbarred from singing at the segregated Constitution Hall nearby. Sharing space would be images of Eleanor Roosevelt, who arranged Anderson’s Lincoln Memorial performance, and MLK JR. who in 1963 delivered his “I have a dream” speech from its steps.

Life Expectancy (Years) Denomination of Bill Life Expectancy (Years) $1 5.9 $5 4.9 $10 4.2 $20 7.7 $50 3.7 $100 15

Why do we use currency?

Why don’t we use gold and silver as currency?

6 Characteristics of Money: Durability-survives wear & tear Portability-easy to carry around Divisibility-can easily make change Uniformity-two units have same value Limited supply-just amount in circulation Acceptability-taken as legal tender by all

Medium of Exchange Unit of Measurement Store of Value 3 Functions of Money: Medium of Exchange Unit of Measurement Store of Value

Medium of Exchange: A commodity accepted by common consent as: 1. payment for goods & services 2. settlement of debts & contracts. Efficient alternative to bartering Barter- direct exchange of goods & services w/out the use of money.

Unit of Measurement: Common denominator of value of goods & services in which prices are stated & accounts are recorded. U.S. dollar often used as unit of measurement in international transactions.

a means of conserving purchasing power for a future time. Store of Value: a means of conserving purchasing power for a future time.

Components of Money Supply: M1 includes: Physical currency in circulation demand deposit accounts & checkable money market accounts. ATMs & checkbooks! traveler's checks

Money Supply Components (M1) 1%Traveler s checks Other checkable deposits 25% Currency 37% Demand deposits 37%

Near Money: Liquidity is the degree of ease with which an asset can be converted into money without a significant loss in value.

Near Money: Assets w/ a specified monetary value that are readily redeemable as money M2 - Savings accounts, certificates of deposit, & shares in money market mutual funds. M2 includes all of M1 too!

Near Money: M3 is a measure of the money supply that includes: large time deposits (CDs). M3 includes all of M2 and M1 too!

Excluded from the Money Supply: Credit cards- are actually debts/liabilities US savings bonds Treasury bonds Currency held by Federal Reserve, govt, or commercial banks

DWIGHT’S MONEY SUPPLY http://economicsoftheoffice.com/all/?sea=3

Videos https://www.youtube.com/watch?v=oSI5EvFSMPw https://www.youtube.com/watch?v=oSI5EvFSMPw  ABC News clip on counterfeiting https://www.youtube.com/watch?v=XxyB29bDbBA&feature=youtu.be  Mary Poppins clip on interest https://www.youtube.com/watch?v=qm0hSAgFhZo

Inside America’s Money Vault https://www.youtube.com/watch?v=nj--XWInsTc

Inside America’s Money Vault Part 1: https://www.youtube.com/watch?v=OcE0zpTHCbk Part 2: https://www.youtube.com/watch?v=Bo8FHEF7n3k Part 3: https://www.youtube.com/watch?v=mZLBVifGlIw

Bitcoin https://www.youtube.com/watch?v=E_9R45RLNR0&feature=youtu.be