Economics (McConnell), AP* Edition, 20th EditionChapter 32:
Money, Banking, and Financial InstitutionsAfter studying this chapter, you should be able to: LO 32.1 | Identify and explain the functions of money. | LO 32.2 | List and describe the components of the U.S. money supply. | LO 32.3 | Describe what "backs" the money supply, making us willing to accept it as payment. | LO 32.4 | Discuss the makeup of the Federal Reserve and its relationship to banks and thrifts. | LO 32.5 | Identify the functions and responsibilities of the Federal Reserve and explain why Fed independence is important. | LO 32.6 | Identify and explain the main factors that contributed to the financial crisis of 20072008. | LO 32.7 | Discuss the actions of the U.S. Treasury and the Federal Reserve that helped keep the banking and financial crisis of 20072008 from worsening. | LO 32.8 | Identify the main subsets of the financial services industry in the United States and provide examples of some firms in each category. |
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