(1) Fill in the blanks

(1) Money is the product of the long-term development of commodity production and commodity exchange. In the process of currency production, the development of commodity value forms has gone through four stages: 0, 0 and 0.

(2) In the commodity economy, money performs five functions:,,, _ _ _ _ _ _; Among them, when expressing and measuring the value of goods, money performs the function of _ _ _; Execute _ _ _ _ _ function when exiting the loop; Perform _ _ _ _ _ _ function when playing the role of universal equivalent in the world market.

(3) The price is _ _ _ _ _ of the commodity value.

(4) The amount of money needed in circulation depends on three factors, such as _ _ _ _ _ _ _ _ _ _ _, and the relationship between them can be expressed as the amount of money needed in circulation = _ _ _ _ _ _ _ _ _ _ _.

(5) A remarkable feature of credit currency is that its value as _ _ _ is different from that as _ _ _ _.

(6) The credit currency is _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

7) The main feature of the double standard system is _ _ _ _ _.

(8) The paper money standard system is _ _ _ _ _ _ _ _.

(2) True or False

(1) A necessary condition of any currency is its own value. ( )

(2) The stronger the liquidity of financial instruments, the higher their returns. ( )

(3) Under the metal currency system, functional currency can be freely cast and melted. ( )

(4) The gold and silver standard system is a monetary system in which gold and silver are used as monetary metals and only gold and silver coins are cast and circulated. ( )

(5) The direct cause of the collapse of the gold standard is the economic crisis. ( )

(6) Credit currencies mainly include bank payment orders, paper money, invoices, etc. ( )

(7) Credit currency is produced on the basis of the development of credit relationship, replacing the currency symbol of metal coins. ( )

(8) Money, as a means of circulation, must have sufficient value. ( )

(3) Multiple choice questions

(1) When a company sells a batch of goods to a shopping mall by deferred payment, the payment will be executed by _ _ _

A means of payment b means of circulation c means of purchase d means of storage

(2) The basic content of the monetary system is _ _ _ _

A currency metal B currency unit C currency casting, issuance and circulation procedures D gold preparation system

(3) The gold and silver standard system includes the following three monetary systems, among which, the monetary system in which gold and silver are freely circulated according to the actual value of the metals they contain is _ _ _

A parallel standard b double standard c limping standard

(4) The main feature of modern monetary system is _ _ _

Currency is paper money issued by the central bank and is entitled to unlimited legal compensation. Paper money is not equivalent to gold and silver.

C currency is issued through credit procedures, D bank deposits are also currency, and E paper money and gold are freely convertible.

(5) The standard system of gold coins is characterized by _ _.

A takes gold as monetary material, B gold coins can be freely cast and melted, and C value symbols can be freely converted into gold coins.

D gold and silver circulate at the same time, and e gold can be imported and exported freely.

(6) Broad money includes _ _.

A cash currency b non-cash currency c time deposit d transfer cheque

(7) Gresham's law is _ _ _ law.

A bad money drives out good money, B good money drives out bad money, C bad money coexists with good money, and C paper money and coins circulate at the same time.

(8) China's cash currency includes

A paper money in circulation b auxiliary currency in circulation c demand deposit d time deposit

(4) Definition of nouns

(1) monetary system

(2) Functional currency and auxiliary currency

(3) unlimited legal compensation and limited legal compensation money.

(4) gold standard system

(5) Liquidity of financial assets

(6) Gresham law

(5) Questions and answers

(1) What role does money play in commodity economy?

(2) What is the law of currency circulation?

(3) Deposit RMB 65,438+000 into the current account of the commercial bank and deposit RMB 65,438+000 into the savings account of the commercial bank. Does it matter with m? Why?

(4) What is credit currency? What is the basis of its appearance?

(5) How to understand "money represents a social production relationship"?

(6) From the characteristics of the gold standard system, explain the evolution of the monetary system from the gold coin standard system to the gold bar standard system and the gold exchange standard system, and the reasons why the gold standard system was replaced by the dishonoured credit currency system.

(7) What is the level of money supply based on? Why is it of great theoretical and practical significance to divide the level of money supply?

The answer is for reference only.

(1) Fill in the blanks

(1) Simple (or accidental) value form, extended value form, general value form and monetary form.

(2) Value scale, circulation means, storage means, payment means, world currency, value scale, storage means and world currency.

(3) Monetary performance

(4) The quantity, price and currency circulation speed of commodities in circulation; Commodity price × number of commodities in circulation/currency circulation speed.

(5) Commodities and money

(6) Credit securities

(7) The state sets a fixed price ratio for gold coins and silver coins according to the price ratio of gold and silver in the market, and gold and silver circulate according to the legal price ratio.

(8) Dishonored credit currency

(2) True or False

( 1)√ (2)× (3)× (4) √ (5) √ (6)× (7) √ (8)×

(3) Multiple choice questions

( 1)A (2)A，B，C，D (3)A (4)A，B，C (5)B，C，E (6)A，B，C，D (7)A (8)A，B

(4) Definition of nouns

(1) Monetary system: refers to the organizational form of currency circulation stipulated by a country in legal form, referred to as monetary system for short. It is gradually formed with the establishment of the capitalist economic system, and the monetary system has also evolved with the development and changes of the commodity economy. Its basic contents include: monetary metal and monetary unit; Currency casting, issuance and circulation procedures; Gold preparation system, etc.

(2) The functional currency of bookkeeping refers to the currency minted in the monetary unit stipulated by the state, also known as the main currency; Secondary currency is a small amount of money lower than the main currency, which is used for daily sporadic transactions and small change.

(3) Unlimited legal compensation of currency: the face value of functional currency is consistent with the actual metal value, and it is a full-value currency. The state stipulates that it has the ability to pay indefinitely. No matter how much is paid, the seller and the creditor shall not refuse to accept it.

Limited legal compensation of currency: the secondary currency is generally made of base metal, and its actual value is lower than the nominal value, which belongs to insufficient currency, but the state stipulates that the secondary currency can be freely exchanged with the main currency within a certain limit, that is, limited legal compensation.

(4) Gold standard: refers to the monetary system with gold as the standard currency. Its main forms are: gold coin standard, gold bar standard and gold exchange standard. The so-called gold standard means the gold coin standard.

(5) Liquidity of financial assets: also known as "money", refers to the ability of a financial asset to be quickly converted into cash without losing its holder, that is, the ability to become a realistic means of circulation and payment, also known as liquidity.

(6) Gresham's Law: Gresham's Law, also known as "bad money drives out good money". Under the dual standard system of gold and silver, gold and silver are circulated in accordance with the legal proportion stipulated by the state. As a result, the official price of gold and silver and the spontaneous price of gold and silver exist side by side in the market. When the actual value of gold and silver coins deviates from the nominal value, so that the money with actual value higher than the nominal value (so-called "good money") is collected and melted out of circulation, while the money with actual value lower than the nominal value (so-called "bad money") floods the market, so-called "bad money drives out good money".

(5) Questions and answers

(1) A: The function of money in commodity economy is the concrete expression of the essence of money, which is endowed by commodity exchange and is also the objective basis for people to use money. In a commodity economy, money performs the following five functions.

(1) The function of expressing the value scale when expressing and measuring the value of all other goods and services. In carrying out this function, we can replace the real money with the concept money, and the real money represents the value of goods as a certain amount of money. The monetary expression of commodity value is price.

(2) Act as a medium of exchange in commodity exchange, and currency performs the function of circulation means. Money as a means of circulation must be a realistic commodity.

Money. As a means of circulation, money has changed the movement form of commodity exchange, broken through the limitations of barter exchange and promoted the development of commodity exchange.

(3) Money exits circulation and is stored as the general representative of social wealth to perform the function of storage means. In the case of full-value metal currency circulation, currency, as a storage means, has the function of spontaneously regulating currency circulation. However, in the case of the circulation of credit money, money cannot spontaneously adjust the amount of money in circulation.

(4) As an exchange value, money exists independently and does not transfer unilaterally with the movement of commodities, and performs the function of payment means. The function of payment means is the basis of all credit relations. On the one hand, it overcomes the limitations of spot trading and greatly promotes the exchange of goods; On the other hand, it leads to the further disconnection between business and sales, which further complicates the contradiction of commodity economy.

⑤ When money transcends national boundaries and plays the role of universal equivalent in the world market, the world function of money is realized. Strictly speaking, the world function of money is not a single functions of money, but the production and exchange of products transcend national boundaries, which makes the above four functions of money extend to all parts of the world.

The five functions of money have their own connotations and functions, but they are closely related to each other. Among them, value scale and circulation means are two basic functions, storage means and payment means are derived from them, and the function of world currency is the result of the development of other functions in the world market.

(2) Answer: Currency circulation refers to the movement that money keeps leaving the starting point as a means of purchase and flows from one commodity owner to another. The law of currency circulation refers to the law that the amount of money needed in circulation depends on the quantity (T), price (P) and currency circulation speed (V) of commodities. If m represents the amount of money needed in circulation, the law of money circulation can be expressed as: m = pt/v. This law is independent of people's will and exists in all places where commodity exchange takes place.

(3) Answer: The former behavior affects both M 1 and M2, while the latter behavior only affects necessity. As can be seen from the division of currency grades:

M 1= currency+demand deposit in the banking system. Therefore, putting 1 OO into the current account will increase M 1. And M2=M 1+ time deposits and savings deposits of commercial banks, so the change of M 1 will also affect the demand. Therefore, the former behavior will affect M 1 and M2. Savings deposits are not included in M 1, so the latter behavior only affects M2, but not M 1.

(4) Answer: Credit currency is a higher development form of money, which means that the value as a currency is greater than the value as a commodity. It replaces metal currency and acts as a means of circulation and payment in commodity economy.

The form of money changes with the development of social productive forces and the evolution of society. Gold and silver once occupied the currency position for a long time, but with the development of commodity economy, the quantity of gold and silver can no longer meet the needs of commodity production and exchange. As a result, credit currency appeared, replacing metal currency as a means of circulation and payment. There are several reasons why credit currency with insufficient value can become the existing form of money in modern society:

(1) When money performs the function of circulation means, it only works at the moment of buying and selling. People only care about its purchasing power, not the value of money itself. Therefore, coins and currency symbols (paper money) with insufficient value may replace gold and silver to perform the function of circulation means.

② When money performs the function of means of payment, it shows a one-way transfer of value. Under the condition of relatively developed commodity economy, credit methods such as credit sale and deferred payment have come into being and developed, and credit currency has directly come into being in the function of currency executing payment means.

(5) A: Money is not only the intermediary of commodity exchange, but also reflects the relationship between commodity producers. In commodity economy, social division of labor requires commodity producers to exchange their labor products with each other, and this exchange must be carried out through the medium of money. Therefore, money, as a universal equivalent, reflects the exchange relationship between commodity producers, and reflects that products are owned by different owners, and the social connection between them, that is, social production relations, is realized through equivalent exchange.

Under different commodity economy conditions, money reflects different social relations of production. Under the condition of private ownership commodity economy, money has become a tool for the exploiting class to exploit the exploited class. Especially in capitalist society, due to the full development of commodity economy, money is widely used as a tool to exploit workers' surplus labor. In a class society, although money is a tool of exploitation, money itself has no class, and which class it serves depends on the social system of that class society.

(6) A: The gold standard refers to the monetary system based on gold, including three main forms: gold coin standard, gold bar standard and gold exchange standard.

The gold coin standard is a typical gold standard. It is a monetary system based on gold and implementing the circulation of gold coins. It has three basic characteristics: first, gold coins can be freely cast and melted. In this way, the number of gold coins can spontaneously meet the demand for money in circulation and ensure that the nominal value of gold coins is consistent with its actual value. Second, gold coins and value symbols (tokens and bank notes) circulate at the same time and can be freely exchanged, which not only saves a lot of gold, but also ensures the stability of value symbols, thus stabilizing the currency circulation. Third, gold can be imported and exported freely. Gold flows freely between countries, plays the role of a world currency, and promotes the development of international trade and the stability of foreign exchange rates.

The gold coin standard prevailed in the period of1816-1914, and it was a relatively stable monetary system in history. Under the gold coin standard system, the currency value is relatively stable, which promotes the development of commodity production and circulation in capitalist countries, and also promotes the development of credit system, international trade and international capital flow. However, due to economic development, the stock of gold is relatively insufficient, and the uneven distribution of gold in various countries has aggravated this contradiction. At the beginning of the 20th century, due to the shortage of gold, some countries began to restrict the free exchange and export of gold, thus weakening the foundation of the gold coin standard system. After the first world war, most countries began to implement the gold bar standard and the gold exchange standard.

Under the gold bullion standard system, there are no gold coins in circulation, but the state stipulates the gold content of paper money or bank notes, and also restricts the exchange of gold, stipulating that residents can only exchange gold from banks after the amount of money they hold reaches a certain limit. This not only saves the amount of monetary gold, but also reduces the outflow of gold, which to some extent alleviates the contradiction between the shortage of gold and the development of commodity economy, but also gradually narrows the functions of money scope of gold.

Under the gold exchange standard, there are no gold coins in circulation, but the gold content of monetary units is stipulated, and domestic currency cannot be directly converted into gold coins or gold bars. China deposits gold and foreign exchange in another country that implements the gold standard, allowing foreign exchange to be indirectly exchanged for gold. The gold exchange standard system further saves the use of gold, expands the credit creation ability of various countries, and further weakens the functions of money of gold.

Both the gold bar standard and the gold exchange standard cancel the circulation of gold coins and replace them with value symbols, thus losing the function of automatically adjusting the demand for currency circulation, and the currency circulation is not as stable as the gold coin standard. After experiencing the worldwide capitalist economic crisis of 1929- 1933, various gold standards were replaced by the credit monetary system.

As can be seen from the above, the evolution from the gold coin standard to the gold bar standard and the gold exchange standard, and the process in which they are finally replaced by the dishonored credit monetary system, is a dialectical process in which the contradiction between the monetary system and the development of commodity economy is constantly generated and solved.

As far as its own defects are concerned, it is inevitable that the gold standard will replace the credit monetary system:

First, the contradiction between the finiteness of gold reserves and output and the infinity of commodity production and exchange is the fundamental reason for the collapse of the gold standard system. The law of currency circulation requires a certain speed of currency circulation.

Secondly, the money supply should be compatible with the total value of social goods. However, the output and stock of gold are limited, which is far behind the rapid development of capitalist commodity economy. Although the emergence of gold bar standard and gold exchange standard has alleviated this contradiction to some extent, it cannot be fundamentally solved.

Second, the currency stability under the gold standard system is only relative. The value of gold itself is affected by the change of gold labor productivity, and the relative value of gold is also affected by the supply and demand of gold. This makes the currency stability and price stability under the gold standard relatively speaking.

Third, under the gold standard system, gold can flow freely around the world, which makes the economies of various countries closely linked, which is not conducive to the implementation of their independent economic policies.

At the same time, there are profound reasons why the dishonoured credit currency system can replace the gold standard system:

First, in the case of metal currency circulation, due to various reasons, the nominal value of coins will deviate from the actual value, which does not affect its function of performing money, so it is possible to replace metal currency with a value symbol with insufficient value to perform the function of money.

Second, credit money can perform various functions of money.

As can be seen from the above, the replacement of the three main forms of the gold standard system and the replacement of the gold standard by the credit currency system are the inevitable choices for the development of the commodity economy to a certain stage.

(7) A: Most economists advocate that money should be defined according to its basic functions, so the money supply should include all credit instruments that perform its main functions. However, in real life, it is difficult to accurately distinguish whether credit instruments are strictly monetary, and there is no obvious boundary between monetary and non-monetary. Therefore, at present, most economists advocate defining and classifying money according to the liquidity of financial assets and determining different intervals of money supply. The so-called liquidity of financial assets refers to the ability of financial assets to be quickly converted into cash without causing losses to holders, that is, the ability to become a realistic means of circulation and payment, also known as liquidity. Financial assets with different liquidity have different effects on commodity circulation and other economic activities, so they have different degrees of currency.

According to the different liquidity of financial assets, money can be divided into the following levels:

M 1= currency+demand deposit in the banking system.

This is the money supply in a narrow sense. Savings deposits, time deposits, treasury bills and life insurance companies of various financial machines can also be regarded as potential purchasing power, which can be easily converted into cash, so they have different degrees of liquidity and can be included in the broad money supply.

According to the different liquidity, broad money should be divided into the following levels:

M2=M 1+ time deposits and savings deposits of commercial banks

M3=M2+ time deposits and savings deposits of other financial institutions

M4=M3+ other short-term current assets (such as national debt and life insurance). )

Money is an important factor that causes economic changes. With the development of economy, the relationship between money and economy is increasingly close, and the change of money supply and demand has great influence on all aspects of people's economy. Therefore, adjusting the amount of money to meet the needs of economic development has become the main task of central banks in various countries. It can be seen that it is of great significance to divide the levels of money supply.

First, it is convenient for economic analysis. By observing the money supply index, we can analyze the fluctuation of the national economy.

Second, by investigating the influence of different levels of money on the economy, we can choose the monetary assets that are most closely related to economic changes as the focus of central bank regulation, which is conducive to the central bank's regulation of money supply and timely observation of the implementation effect of monetary policy.

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