Econ

Econ
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  • Hey there young lad!
  • Who are you?
  • I am the giver of all knowledge. Speak of what you would be desperate to learn.
  • Well, I have been struggling with econ here lately.
  • Let me help you out!! I'm great with Econ.
  • Sweet!
  • Porandi's Pizza
  • So, the money I'm spending at this restaurant is commodity money?
  • There are 4 different types of money: Commodity money, Fiat money, Fiduciary money, and Commercial Bank money.
  • Welcome to the bank. Places such as this make money by charging interest on loans. It's basically like putting a price on a price.
  • The Fed has three main tools at its disposal to influence monetary policy: Open Market Operations, setting the discount rate, and even setting reserve requirements
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