A. Describe the various forms that wealth can take, referencing the spectrum of liquidity of each type of asset, and the typical portfolio holdings of various types of household

B. Describe the three functions that must be fulfilled in order for an asset to be defined as money. In reference to these three functions, give your opinion on whether each of US Government Bonds, Bitcoins, Artworks and are useful forms of money.

C. Describe the role of banks in the money creation process under the following three theories: Fractional Reserve Banking, Financial Intermediation, Credit Creation Theory.