Assigment 3

Name: María Daniela Rodríguez Naranjo

Nua: 231468

Watch the video, answer the following questions.

1. How are money and currency defined?

Money an currency are a medium o exchange, a unit of account

1. What are the differences between currency and money?

Money mantenain its purchasing power over long periods of time

1. What are their most important characteristics?

They are durable, portable, divisible in that you can make change and fungible

1. What is a Fiat currency?

Is a currency that is exists at the dictate or by fiat from a government

1. What are its characteristics?

It is just a paper and the government gives a value

1. What is money and currency used for?

The government use for leach away the time and freedom by stealing the purchsing power

1. What does “store of value” refer to?

It is like the depreciation that money has over time

1. What was the currency used in the past?

Gold and silver were the principal currency of the egyptians

1. What is the most beautiful way of money?

It is the gold

1. What is a “solving system”?

It is the control that the government has over money

1. What happens when governments expand the currency supplies?

Inflation

1. What is barter?

is the exchange of things that have the same value or that are similar without putting money

1. What is Quantity of Easy? 

Was created out of thin air and then given to the banks who paid themselves record bonuses in reward for crashing the world economy

1. What is the tendency of QEs around the world?

Write a final reflection on the topic, mentioning what were the most important aspects you learned.

I understand that money is relatively important, the value has been given by us. Although it is just a piece of paper, it allows control in society. The government's mistake is wanting to have more and more money causing inflation