FEDERAL RESERVE

Federal Reserve

Federal Reserve

Purpose and function of money

Money is regarded to have four primary functions: element of account, a medium of switch, and a store of evaluate and a standard of deferred payment. Money is necessary for our economy to function. Main source used for trading of services and goods is money. Money is an easy medium because in old time barter system was used because of which there problems were being created. The purpose of money is sell and purchase services and goods between individuals (Miller, 2004).

Central bank manages a nation's monetary system

Central bank system of United States is ...