Random Fact

Median income for households in the United States fell to $51,017 in 2012 from $51,100 in 2011. Asians had the highest household incomes ($68,600), followed by whites ($57,000), Hispanics, ($39,000), and African Americans (33,300) (www.census.gov).

Unit 9: Functions of Money

Introduction
Section 1: Functions of Money
Section 2: Money Supply Measures
Section 3: The United States Banking System
Section 4: Federal Reserve Tools to Change the Money Supply
Section 5: Banks' Balance Sheets and Fractional Reserve Banking
Section 6: The Process of Money Creation
Section 7: The Significance of the Federal Deposit Insurance Corporation (FDIC)
Section 8: Velocity and the Quantity Theory of Money
Test Your Knowledge!