Paper , Order, or Assignment Requirements

From the scenario for Katrina’s Candies, examine the procedure Herb will use to estimate the demand model developed in the scenario for Week 1. Analyze the elasticity of demand for products within the selected industry relevant to Katrina’s Candies. Determine the factors involved in making decisions about pricing these products that you believe to be the most influential.
Macroeconomics

1. What are the requirements for something to be considered money? Why does the dollar have value?
2. What does the money supply consist of and what are the respective amounts in the total money supply for the United States?
3. What are the primary functions of the Fed? What role does the Federal Open Market Committee (FOMC) play in our economy?
4. What role do the financial institutions (commercial banks and other institutions) play in our financial system?
5. What is meant by the term “fractional-reserve banking” in our system? What are the implications for consumers?
6. What are the tools available to the FED for controlling the money supply? Which are used most often? Which are most effective?
7. How does the money multiplier help to determine the effects of monetary policy?
8. What are the pros and cons of using monetary policy, as opposed to the use of fiscal policy, for implementing economic policies and practices?