1) Ironically technological advancements have made bartering, which used to be an extremely inefficient exchange of values, more and more popular in the present day. Think of and identify four situations where present day bartering becomes beneficial to both sides of the transaction.
2) Assume that you have 100 $1 bills. Assume also that I have 4 $100 bills. Explain why even though you have more paper money (100 pieces of paper), the value of my four pieces of paper is greater than yours.
3) Explain your opinion as to whether you feel that using a central bank (the Fed) to control all of the US's major monetary policies as well as all of its money is dangerous? What might be some of the unintended consequences of giving this much power to one private entity?