Strictly defined, money can be considered either income or wealth.

Money is the best asset available for transporting purchasing power from one period to another.

Fiat money is intrinsically worthless.

Instead of increasing taxes, the U.S. government today pays for goods and services by printing money.

Unlike the supply of wheat or the supply of automobiles, the money supply, as measured by M1, is a stock (not a flow) variable.

The legal distinctions between financial intermediaries have broadened since the 1970s.

A bank's most important assets are its deposits.

Actual reserves equal excess reserves plus required reserves.

An increase in bank reserves leads to a greater increase in the money supply.

Most of the money supply is held in the form of currency.