1. What is money and what determines whether something can function as money?

2. What historical examples demonstrate that money does not have to be currency?

1. Why did metallic money become popular and what were early forms of it?

2. How did paper money develop in Europe and what role did goldsmiths play?

3. When did paper money first appear in China and the United States?

1. What is a medium of exchange and how does it facilitate transactions?

2. How does money serve as a unit of account and why is this function important?

3. What does it mean for money to be a store of value?

1. What is currency and what does it mean for currency to be legal tender?

2. What is a monetary unit and how are monetary units typically organized?

3. What is commodity money and what are historical examples of it?

4. What is representative money and how did the gold standard work?

5. What problems did the gold standard create and why did countries abandon it?

6. What is fiat money and how does it derive its value?

7. What proportion of money in circulation is physical currency versus financial instruments?

8. What are cryptocurrencies and what challenges do they face in gaining acceptance?

1. What is the money supply and why do economists monitor it?

2. Why do economists use multiple definitions when measuring the money supply?

3. What is M0 (the monetary base) and what does it include?

4. What is M1 and what types of accounts does it include?

5. How does M2 differ from M1 and what additional assets does it include?

6. What is meant by 'narrow money' and which monetary aggregates are most commonly used?

7. How do estimates of the money supply help the government set economic policy?

8. What did the Federal Reserve's response to the Great Recession reveal about the relationship between money supply and inflation?