Тема № 13 the monetary system Денежная система

1. Money (деньги) - anything that is generally accepted in an economy as a medium of exchange, a unit of account, a store of purchasing power, and a standard for deferred payment.

2. Medium of exchange (средство обмена) - money that is a convenient means of exchanging goods and services without engaging in barter, what sellers generally accept and buyers generally use to pay for a good or service.

3. Standard of value (мера стоимости) - money is a yardstick for measuring the value of all goods and services.

4. Store of wealth (средство накопление) - money serves as a store of wealth by retaining its purchasing power over time.

5. Commodity money (товарные деньги) - money serves as both money and a commodity.

6. Face value of money (номинальная стоимость денег) - the dollar or cents value stamped on a coin.

7. Token money (билонные, символические денежные знаки) - coins which have a face value greater than their intrinsic value.

8. Intrinsic value (внутренняя стоимость) - the value in the market of the metal in a coin.

9. Paper money (бумажные деньги) - pieces of paper used as a medium of exchange in the U.S. - Federal Reserve notes and Treasury currency.

10. Fiat Money (бумажные деньги, не обеспеченные золотом) - money that is decreed as such by the government. It is of little value as a commodity, but it maintains its value as a medium of exchange because people have faith that the issuer will stand behind the pieces of printed paper and limit their production.

11. Near-money (почти деньги) - assets that are almost as liquid as currency and demand deposits.

12. M1 (агрегат М1) - currency, travelers’ checks, demand deposits (checking accounts) and other checkable deposits (including NOW accounts).

13. M2 (агрегат М2) - all of the components of M1 plus time deposits, money market mutual fund shares, and money market accounts.

14. M3 (агрегат М3) - a still more broadly defined money supply, a monetary aggregate consisting of M2 + large time deposits or deposits of $100,000 or more.

15. Federal Reserve notes (банкноты федеральной резервной системы) - paper money issued by and the debts of the Federal Reserve bank.

16. Bank notes (банкноты) - were pieces of paper promising to pay a specific amount of money to the bearer in gold.

17. Currency (валюта) - the coins and paper that make up the cash in a society.

18. Currency exchange (обмен валюты) - buying or selling foreign currencies.

19. Rate of exchange (курс обмена) - the price at which a particular currency sells in terms of other currencies.

20. Hard currency (твердая валюта) - any national currency widely accepted in payment in international markets.

21. Currency depreciation (devaluation) (девальвация валюты) - the reduction of the value of a nation's currency relative to the currencies of other countries.

22. Currency appreciation (ревальвация валюты) - a rise in the price of one currency relative to another.

23. Currency basket (валютная корзина) - a set of national currencies which is used for determining an exchange rate of national and international currency.

24. Currency intervention (валютная интервенция) - purposeful sale out purchase operations of foreign currency for limiting the dynamics of national currency exchange rate by definite bounds of its rise or fall.

25. Gold standard (золотой стандарт) - an agreement by countries to fix the price of their currencies in terms of gold.

26. Purchasing power (покупательская сила) - the value of money; describes the quantity and quality of goods and services one can buy with the money.

27. Money supply (предложение денег) - the narrowly defined money supply (M1) consists of coins, paper currency, plus all demand or checking deposits; the broadly defined supply (M2) includes all items in M1 plus certain liquid assets or near-moneys -- savings deposits, money market funds and the like.

28. International Monetary Fund (IMF) (МВФ) - an international bank that makes short-term loans to countries experiencing balance-of-payment deficits