Define: Bailment. Under what circumstances is fraud in the bailment industry more likely? Explain Jevons' contribution to understanding this industry.
Explain 100 percent warehousing and fractional reserve warehousing.
Why were bailment laws tightened in the grain industry and not in the banking industry in the 19th century? After all, both industries store homogeneous and fungible objects.
Why is fractional reserve banking less likely to be persist for the long run in an economy with a gold standard and competing currencies?
Explain the logic behind the Bretton Woods system. Which two policies discussed in class were especially important in causing the Bretton Woods system to fall apart? Why is Mundell an important economist in relation to the Bretton Woods system and its aftermath?
Explain 100 percent warehousing and fractional reserve warehousing.
Why were bailment laws tightened in the grain industry and not in the banking industry in the 19th century? After all, both industries store homogeneous and fungible objects.
Why is fractional reserve banking less likely to be persist for the long run in an economy with a gold standard and competing currencies?
Explain the logic behind the Bretton Woods system. Which two policies discussed in class were especially important in causing the Bretton Woods system to fall apart? Why is Mundell an important economist in relation to the Bretton Woods system and its aftermath?
posted by Chris at 5:17 PM
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