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Assignment 7

o Prompt: Complete the unit homework questions below and submit them.

1. Could each of the following items potentially serve as money? Consider each as a medium of exchange, a unit of account, or a store of value.

A. Visa credit card

B. Federal Reserve note

C. Debit card

D. Picasso painting

2. What backs the U.S. dollar? Include the distinction between commodity money and fiat money in your answer.

3. If you deposit a $20 bill into a checking account and your bank has a 10 percent reserve requirement, by how much will the bank’s excess reserves rise?

4. In what form does a bank hold its required reserves? Assume the Fed has a 20 percent required reserve ratio. What amount of checkable deposits can be supported by $10 million in required reserves?

5. Briefly describe the effect on the money supply of the following monetary policies:

A. The Fed purchases $20 million worth of U.S. Treasury bonds.

B. The Fed increases the discount rate.

C. The Fed decreases the discount rate.

D. The Fed sells $40 million worth of U.S. T-bills.

E. The Fed decreases the required reserve ratio.

6. What are the basic motives for the transactions demand, precautionary demand, and speculative demand? Explain how these three demands are combined in a graph to show the total demand for money.

7. “A monetarist investigator might say that the sewer flow of 6,000 gallons an hour consisted of an average of 200 gallons in the sewer at any one time with a complete turnover of the water 30 times every hour.” Interpret this statement using the equation of exchange.

8. Why is the shape of the aggregate supply curve important to the Keynesian-monetarist controversy? (Hint: Review Exhibit 6 of Chapter 26 in the chapter on aggregate demand and supply.)

SHAPE \* MERGEFORMAT

9. In Exhibit 15-1, if the required reserve ratio is raised to 15 percent, First Iliad State will have to convert loans worth:

$9,000,000 to required reserves.

$1,500,000 to required reserves.

$500,000 to required reserves.

$1,000,000 to required reserves.

10. If all banks in the system shown in Exhibit 15-5 were identical to Tucker National Bank, the money multiplier for the system would be:

a. 4.

b. 5.

c. 10.

d. 25

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The world’s largest luxury commodity retail group, Louis Vuitton Moet Hennessy (LVMH) functions on the basis of four parameters viz

The detailed analysis shows that the firm cannot be beaten despite the tough competition and hence promises a bright future. Thus the report essentially points out the strategic position of the firm and its present and future prospects. The world’s largest luxury commodity retail group, Louis Vuitton Moet Hennessy (LVMH) functions on the basis of four parameters viz. its product line, the pattern of distribution, style of communicating its product offerings to a large number of consumers and its price points.

The luxury goods group renders greater impact on the first three activities for which the stress rendered by charging high prices gets mediated. Louis Vuitton had used its distribution and communication styles to lure huge groups of customers to its beautifully ordained stores spread along the region. Furthermore, the company spends a lot on advertising activities to create mass awareness of its products and shops. The price strategy followed by Louis Vuitton helps the company earn a huge margin of around 40 to 45 percent.

A comparison drawn on the revenue margins of other luxury brand companies reflects that Louis Vuitton stands far ahead in the race. The world-renowned luxury goods brand states that the maximum number of consumers belongs to the middle-level groups while the rich elites constitute only a niche segment. However, Louis Vuitton observes that owing to the event of recession the structure of consumer spending has countered a radical change. The consumers of the luxury goods retail chain who were not price-sensitive previously became highly aware of the changing economic situation.

This resulted in a huge drop in sales of such luxury commodities, which came to be observed as objects of lesser importance. Owing to the change in the market condition brought about by recession the company felt the need to redesign its products to focus on their basic usage parameters rather than making it gaudy.&nbsp.

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