What does it mean when economists say that home buyers are “underwater” on their mortgages? Buyers owe more on their mortgage than the properties are worth. The group responsible for setting policy on buying and selling government securities (bills, notes, and bonds) is the: Federal Open Market Committee.Click to see full answer. In respect to this, when economists say that money serves as a store of value they mean that it is?When economists say that money serves as a unit of account, they mean that it is: a monetary unit for measuring and comparing the relative values of goods. When economists say that money serves as a store of value, they mean that it is: a way to keep wealth in a readily spendable form for future use.One may also ask, why during periods of rapid inflation can money cease to work as a medium of exchange? During periods of rapid inflation, money may cease to work as a medium of exchange: because people and businesses will not want to accept it in transactions. Other things equal, an excessive increase in the money supply will: decrease the purchasing power of each dollar. Also, which of the following lists accurately describes m1? Demand deposits, traveler’s checks, other checkable deposits and currency.Which group is responsible for the policy decision of changing the money supply?Congress has delegated responsibility for monetary policy to the Federal Reserve (the Fed), the nation’s central bank, but retains oversight responsibilities for ensuring that the Fed is adhering to its statutory mandate of “maximum employment, stable prices, and moderate long-term interest rates.” To meet its price