Question

1. After researching the "Federal Reserve System" and Alan Greenspan and Ben Bernanke, write a 2-3 paragraph description of the Federal Reserve System and its role and impact in our economic system.

2. After reading and researching the "Big Mac Index," define the "Big Mac Index" in economic terms and explain why can economic value exchange be expressed in "Big Mac"?

3. Write a brief description of how electronic payment systems affect the flow of money and money supply.

4. Write a brief description of the role of the Federal Reserve Chairman. What skills, experiences, and natural abilities are effective for this position?

5. Write a brief description of how changes in economics in the USA are impacting the effectiveness of Fed policy.

6. In a short description, make "the case for trade" in your own words.

7. Present a brief summary and assessment of the current unemployment statistics in the United States (including link to one or more existing charts or graphs, with references to their sources).

8. Write a brief summary of the difficulties that past and current economists and policy makers have struggled with to navigate the economic issues that emerge in such a complex global economy.

9. What kind of structural support systems exist in developed countries (such as the United States) to facilitate sustained economic development? Write a brief summary of your assessment.

10. Briefly describe the reason why socialist government typically results in a failed economy.

11. What makes America unique (and great) from an economic perspective?

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1. After researching the "Federal Reserve System" and Alan Greenspan and Ben Bernanke, write a 2-3 paragraph description of the Federal Reserve System and its role and impact in our economic system.
Federal Reserve System in the United States as her central bank sits rather odd based on the U.S. constitution. The Founders gave Congress the constitutional power in Article I, Section 8, Clause 5, “To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”. Although by the Federal Reserve Act of 1913 the congress technically gave away this constitutional power, it is still unconstitutional. Alan Greenspan puts it, “…the Federal Reserve is an independent agency, and that means, basically, that there is no other agency of government which can overrule actions that we take.” The Reserve Banks issue shares of stock to member banks. Although the stock may not be sold, traded, or pledged as security for a loan, dividends are paid 6 percent per year as determined by law according to the Board of Governors of the Federal Reserve System official site without mentioning who actually own those shares if it is not traded.
At any rate, the change in the Fed’s policy influence the global economy as the United States is the...

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