The+Economics+of+Money,+Banking,+and+Financial+Markets,+9e[1]

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1、1)TheFedusesthreepolicytoolstomanipulatethemoneysupply:________,whichaffectreservesandthemonetarybase;changesin________,whichaffectthemonetarybase;andchangesin________,whichaffectthemoneymultiplier.A)openmarketoperations;borrowedreserves;marginrequirementsB)openmarketoperations;bor

2、rowedreserves;reserverequirementsC)borrowedreserves;openmarketoperations;marginrequirementsD)borrowedreserves;openmarketoperations;reserverequirementsAnswer:B2)TheFedusesthreepolicytoolstomanipulatethemoneysupply:openmarketoperations,whichaffectthe________;changesinborrowedreserves

3、,whichaffectthe________;andchangesinreserverequirements,whichaffectthe________.A)moneymultiplier;monetarybase;monetarybaseB)monetarybase;moneymultiplier;monetarybaseC)monetarybase;monetarybase;moneymultiplierD)moneymultiplier;moneymultiplier;monetarybaseAnswer:C3)Theinterestratecha

4、rgedonovernightloansofreservesbetweenbanksistheA)primerate.B)discountrate.C)federalfundsrate.D)Treasurybillrate.Answer:C4)TheprimaryindicatoroftheFed'sstanceonmonetarypolicyisA)thediscountrate.B)thefederalfundsrate.C)thegrowthrateofthemonetarybase.D)thegrowthrateofM2.Answer:B5)Theq

5、uantityofreservesdemandedequalsA)requiredreservesplusborrowedreserves.B)excessreservesplusborrowedreserves.C)requiredreservesplusexcessreserves.D)totalreservesminusexcessreserves.Answer:C6)Everythingelseheldconstant,whenthefederalfundsrateis________theinterestratepaidonreserves,the

6、quantityofreservesdemandedriseswhenthefederalfundsrate________.A)above,risesB)above,fallsC)below,risesD)below,fallsAnswer:B3019)Inthemarketforreserves,ifthefederalfundsrateisabovetheinterestratepaidonexcessreserves,anopenmarketsale________thesupplyofreservescausingthefederalfundsra

7、teto________,everythingelseheldconstant.A)decreases;decreaseB)increases;decreaseC)increases;increaseD)decreases;increaseAnswer:DOpenMarketOperations1)________arethemostimportantmonetarypolicytoolbecausetheyaretheprimarydeterminantofchangesinthe________,themainsourceoffluctuationsin

8、themoneysupply.A)Openmarke