Money What is money? A medium of exchange

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Presentation transcript:

Money What is money? A medium of exchange Anything generally accepted as method of payment (coins, paper currency, deposits in bank accounts) Printed or coined money is called currency or Federal Reserve Notes

Currency Why use currency? Currency is easily counted Currency is durable Currency is easy to carry Currency can be easily controlled

Money in the economy Who uses money? Everyone

The Government and Money Why does the government issue currency and coins? To create an easy way to pay for goods and services. people accept currency in exchange for goods and services because they have confidence in the government.

The Government and Money Expressed power in the US Constitution says the legislative branch decides how money is made. The Federal Reserve System controls the value of money The Federal reserve also regulates banks and is the bank of the national government The Bureau of Engraving and Printing is in charge of printing currency The National Mint coins money The National Treasury is in charge of the Bureau of Engraving and Printing and the National Mint Which government agencies are responsible for creating money?