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What two entities are involved inFiscal Policy?
What are the TWO tools used inFiscal Policy?
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ECON 200Students’ Answers
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Money is currency. 53
The Bureau of Engraving and Printing (BEP)produces currency and stamps, and the U.S. Mint produces our nation's coins.
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Money is the economy! 6
Green paper that makes everyone happy!
Money is wealth.
Money is money.
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Currency that is backed by gold.
Money is the value of gold.
Money is something of great worth.
$890 an ounce
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$250,000,000 Zimbabwe dollars = $6.68 U.S. Dollars
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Money is the root of all evil! 3
A green piece of paper with deadPresidents on it.
Money is something that has a value to it.
Money makes the world go around.
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Money is anything that is generally acceptable in the exchange for goods and services.
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By Gus Maller
(1840 - 1870)The Saloon Keeper
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Pine Gulch waslocated 65 miles north/northeastof SanFrancisco
*Pine Gulch
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What did the mining town of Pine Gulch look like?
MP3 Format Sound
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http://banjo2.virtualave.net/photographs.html
Hilton Hotel
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http://www.blackcowboys.com/blackcowboys.htm
OneHorseCharlie
Mary FieldsPostmaster andStagecoach owner
PonchoSanchez
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http://fermat.stmarys-ca.edu/~jpolos/paper/s_1036.jpg
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http://fermat.stmarys-ca.edu/~jpolos/paper/s_1036.jpg
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What do you think was used as moneyin Pine Gulch?
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http://www.surfnetinc.com/chuck/v-sw1.jpg
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http://www.ranchpegasus.it/page1.htm
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http://www.bignosekates.com/
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6’4” tall
Weighed 240 pounds
Quickest draw in theterritory
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“How much are you going to pay me”?
“How much gold dust will I be guardingeach month”?
“1 percent of all the gold dust you guard per month.”
“You’ll be guarding on average about $20,000worth of gold dust per month.”
$200 per month
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http://banjo2.virtualave.net/photographs.html
Slim’s
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Assets = Own Liabilities = Owe
+1 +1
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Assets Liabilities
$10,000 Gold Dust $10,000 Receipts
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http://www.denix.osd.mil/denix/Public/ES-Programs/Conservation/Legacy/Settler/sett12.html
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http://banjo2.virtualave.net/photographs.html
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http://banjo2.virtualave.net/photographs.html
Slim’s
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http://www.denix.osd.mil/denix/Public/ES-Programs/Conservation/Legacy/Settler/sett12.html
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http://www.bignosekates.com/
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http://www.denix.osd.mil/denix/Public/ES-Programs/Conservation/Legacy/Settler/sett12.html
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http://www.bignosekates.com/
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Assets Liabilities
$10,000 Gold Dust $10,000 receipts $10,000 New Receipts
Written onwild green paperwith wild pink ink
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Now, what is considered to be money in Pine Gulch?
The New Receiptswritten on wild green paperwith wild pink ink
Why are these receipts considered to bemoney?
BECAUSE THEY ARE GENERALLYACCEPTABLE IN THE PAYMENT FORGOODS AND SERVICES!!!!!!!
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http://www.denix.osd.mil/denix/Public/ES-Programs/Conservation/Legacy/Settler/sett12.html
$ $
$
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http://www.sanbenitohouse.com/images/saloon.jpg
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I, Gus,owe Slim,$5,000 +$1,000payable in6 months.
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Assets Liabilities
$10,000 Gold Dust $10,000 Receipts+5,000 Receipts15,000 Receipts
5,000 Loan15,000
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More money?
Less money?
More!!!
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Increase the stock of liquor
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Assets Liabilities
$10,000 Gold Dust $10,000 Receipts+5,000 Receipts15,000 Receipts
5,000 Loan15,000
-6,000-5,000 repaid loan9,00010,000
ReceiptsReceipts
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Assets Liabilities
$10,000 Gold Dust $10,000 Receipts+5,000 Receipts15,000 Receipts
5,000 Loan15,000
-6,000-5,000 repaid loan9,00010,000
+ Owner’s Equity
+1,000 Slim’s claim10,000
ReceiptsReceipts
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Chapter 32 in the book
This guy rides into town
6’9” tall
290 Pounds
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http://www.tombstonemotels.com/gunslinger.htm
BigBart
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http://www.fastdraw.org/
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Assets Liabilities
110,000 Receipts30,000 Gold Dust100,000 Loans
+ Owner’s Equity
20,000 Slim’s Equity130,000 130,000
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http://www.tombstone1880.com/archives/heath.jpg
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http://www.kieffernaturestock.com/Colorado/PAGE145/TCurtisMartin.html
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When a bank makes a loan, the money supplyincreases.
When loans are repaid, the money supplydecreases.
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Professor Donald Wells grades some exams for his economics students in his office yesterday morning. Wells was the recipient of the 2000 Carnegie Foundation for the Advancement of Teaching Arizona Professor of the Year award.
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All Credit goesto--
Dr. Donald Wells, Professor ofEconomics at the University ofArizona. Teacher, friend, mentor,and fellow Honorary Member ofThe International Golden Key Club