300+ words, 3 citations in current APA format.
Author Anna Schwartz writes this about money: “The U.S. money supply comprises currency—dollar bills and coins issued by the Federal Reserve System and the Treasury—and various kinds of deposits held by the public at commercial banks and other depository institutions such as savings and loans and credit unions.” (Schwartz, n.d)
In this threaded discussion, complete the following:
1) Discuss the concept of money. Begin by defining the functions of money and explain how currency meets these functions.
2) Historically, a number of things other than coin and currency have been used as money. Using outside research, provide an example of something else that has been used as money, and explain when and where it was used. Do not use the examples given in the text.
3) Think about how Scripture influences our attitudes and actions towards money. Which Bible verses related to money challenge you the most? Which biblical concepts have helped form how you think about and act with your money? Explain.
Respond to the explanations of items used as money for two classmates. Explain benefits or drawbacks of using that type of money referred to in in the initial post. Use outside research to substantiate your claim.
Schwartz, A.J. (n.d), Money Supply, The Concise Encyclopedia of Economics, Retrieved from: https://www.econlib.org/library/Enc1/MoneySupply.html