中級宏觀經(jīng)濟學付費版題庫4經(jīng)濟增長Ⅰ

1、Name: _ Date: _1. Economists use the termmoney to refer to:A) income.B) profits.C) assets used for transactions.D) earnings from labor.2. Macroeconomists call assets used to make transactions:A) real income.B) nominal income.C) money.D) consumption.3. All of the following are considered major functi

2、ons of money except as a:A) medium of exchange.B) way to display wealth.C) unit of account.D) store of value.4. People use money as a store of value when they:A) hold money to transfer purchasing power into the future.B) use money as a measure of economic transactions.C) use money to buy goods and s

3、ervices.D) hold money to gain power and esteem.5. People use money as a unit of account when they:A) hold money to transfer purchasing power into the future.B) use money as a measure of economic transactions.C) use money to buy goods and services.D) hold money to gain power and esteem.6. People use

4、money as a medium of exchange when they:A) hold money to transfer purchasing power into the future.B) use money as a measure of economic transactions.C) use money to buy goods and services.D) hold money to gain power and esteem.7. When a pizza maker lists the price of a pizza as $10, this is an exam

5、ple of using money as a:A) store of value.B) unit of account.C) medium of exchange.D) flow of value.8. Moneys liquidity refers to the ease with which:A) coins can be melted down.B) illegally obtained money can be laundered.C) loans can be floated.D) money can be converted into goods and services.9.

6、To make a trade in a barter economy requires:A) currency.B) a check.C) scrip.D) a double coincidence of wants.10. Money that has no value other than as money is called _ money.A) fiatB) intrinsicC) commodityD) government11. A country that is on a gold standard primarily uses:A) commodity money.B) fi

7、at money.C) credit money.D) the barter system.12. In prisoner of war camps during World War II, the“ currency ” used was:A) chocolates.B) cigarettes.C) gold.D) IOUs.13. An important factor in the evolution of commodity money to fiat money is:A) a desire to reduce transaction costs.B) a desire to inc

8、rease transaction costs.C) the fact that gold is no longer highly valued.D) a desire to use gold for jewelry.14. The use offei as money on the island of Yap illustrates the idea of money as a social convention because:A) only fei physically in the possession of the owner is accepted in transactions.

9、B) legal claim to a fei never seen by current generations was accepted in transactions.C) the central bank of Yap acceptsfei in exchange for paper certificates.D) the government of Yap verifies the authenticity of fei used for transactions.15. In a country on a gold standard, the quantity of money i

10、s determined by the:A) government.B) central bank.C) amount of gold.D) buying and selling of government securities.16. The quantity of money in the United States is essentially controlled by the:A) President of the United States.B) Department of the Treasury.C) Federal Reserve.D) system of commercia

11、l banks.17. The central bank in the United States is the:A) Bank of America.B) U.S. Treasury.C) U.S. National Bank.D) Federal Reserve.18. In the United States, monetary policy is controlled by:A) the President.B) the Congress.C) the Federal Reserve.D) the Treasury Department.19. To increase the mone

12、y supply, the Federal Reserve:A) buys government bonds.B) sells government bonds.C) buys corporate stocks.D) sells corporate stocks.20. To reduce the money supply, the Federal Reserve:A) buys government bonds.B) sells government bonds.C) creates demand deposits.D) destroys demand deposits.21. Open-m

13、arket operations are:A) Commerce Department efforts to open foreign markets to international trade.B) Federal Reserve purchases and sales of government bonds.C) Securities and Exchange Commission rules requiring open disclosure of market trades.D) Treasury Department purchases and sales of the U.S.

14、gold stock.22. Currency equals:A) M1.B) the sum of funds in checking accounts.C) the sum of checking accounts and paper money.D) the sum of coins and paper money.23. Demand deposits are funds held in:A) currency.B) certificates of deposit.C) checking accounts.D) money markets.24. All of the followin

15、g assets are included inM1 except:A) currency.B) demand deposits.C) travelers checks.D) money market deposit accounts.25. Money market mutual fund shares are included in:A) M1 only.B) M2 only.C) both M1 and M2.D) neither M1 nor M2.26. Credit card balances are included in:A) M1 only.B) M2 only.C) bot

16、h M1 and M2.D) neither M1 nor M2.27. Checking account balances that are linked to debit cards are included in:A) M1.B) M2 only.C) both M1 and M2.D) neither M1 nor M2.28. Credit cards:A) are part of the M1 money supply.B) are part of the M2 money supply.C) are part of both theM1 and M2 money supply.D

17、) do not affect the money supply.29. Payment is deferred by using _, but immediate access to funds occurs when using _.A) currency; demand depositsB) credit cards; debit cardsC) demand deposits; savings depositsD) debit cards; credit cards30. In the United States, the money supply is determined:A) o

18、nly by the Fed.B) only by the behavior of individuals who hold money and of banks in which money is held.C) jointly by the Fed and by the behavior of individuals who hold money and of banks in which money is held.D) according to a constant-growth-rate rule.31. The money supply consists of:A) currenc

19、y plus reserves.B) currency plus the monetary base.C) currency plus demand deposits.D) the monetary base plus demand deposits.32. Bank reserves equal:A) gold kept in bank vaults.B) gold kept at the central bank.C) currency plus demand deposits.D) deposits that banks have received but have not lent o

20、ut.33. In the United States, bank reserves consist of:A) currency and demand deposits.B) vault cash and deposits at the Federal Reserve.C) gold deposits at the Federal Reserve.D) the money supply.34. Assets of banks include:A) money market mutual funds.B) currency in the hands of the public.C) loans

21、 to customers.D) demand deposits.35. Liabilities of banks include:A) reserves.B) currency in the hands of the public.C) loans to customers.D) demand deposits.36. In a system with 100-percent-reserve banking:A) all banks must hold reserves equal to 100 percent of their loans.B) no banks can make loan

22、s.C) the banking system completely controls the size of the money supply.D) no banks can accept deposits.37. In a 100-percent-reserve banking system, if a customer deposits $100 of currency into a bank, then the money supply:A) increases by $100.B) decreases by $100.C) increases by more than $100.D)

23、 remains the same.38. In a 100-percent-reserve banking system, banks:A) can increase the money supply.B) can decrease the money supply.C) can either increase or decrease the money supply.D) cannot affect the money supply.39. In a system with fractional-reserve banking:A) all banks must hold reserves

24、 equal to a fraction of their loans.B) no banks can make loans.C) the banking system completely controls the size of the money supply.D) all banks must hold reserves equal to a fraction of their deposits.40. Banks create money in:A) a 100-percent-reserve banking system but not in a fractional-reserv

25、e banking system.B) a fractional-reserve banking system but not in a 100-percent-reserve banking system.C) both a 100-percent-reserve banking system and a fractional-reserve banking system.D) neither a 100-percent-reserve banking system nor a fractional-reserve banking system.41. If there is no curr

26、ency and the proceeds of all loans are deposited somewhere in the banking system and ifrr denotes the reservedeposit ratio, then the total money supply is:A) reserves divided byrr .B) 1/rr .C) reserves timesrr .D) reserves divided by (1rr ).42. In a fractional-reserve banking system, banks create mo

27、ney when they:A) accept deposits.B) make loans.C) hold reserves.D) exchange currency for deposits.43. In a fractional-reserve banking system, banks create money because:A) each dollar of reserves generates many dollars of demand deposits.B) banks have the legal authority to issue new currency.C) fun

28、ds are transferred from households wishing to save to firms wishing to borrow.D) the wealth of the economy expands when borrowers undertake new debt obligations.44. The difference between banks and other financial intermediaries is that only banks have the legal authority to:A) transfer funds from s

29、avers to borrowers.B) pay interest on debt obligations.C) manage portfolios of assets.D) create assets that are part of the money supply.45. Financial intermediation is the process of:A) settling disputes between borrowers and lenders.B) advising corporations on whether to expand using debt or equit

30、y.C) transferring funds from savers to borrowers.D) converting from a barter economy to a money economy.46. The banking system creates:A) liquidity.B) wealth.C) reserves.D) currency.47. The value of banks owners equity is called bank:A) deposits.B) reserves.C) capital.D) liquidity.48. A bank balance

31、 sheet consists of only the following items: Deposits $1,000Reserves $100 Securities $400Debt$500Loans$2,000What is the value of bank capital?A) $1,000B) +$500C) +$1,000D) +$1,50049. The minimum amount of owners equity in a bank mandated by regulators is called a_ requirement.A) reserveB) marginC) l

32、iquidityD) capital50. The use of borrowed funds to supplement existing funds for purposes of investment is called:A) arbitrage.B) leverage.C) convergence.D) intermediation.Use the following to answer questions 51-53:Bank Balance SheetAssetsLiabilities & Net WorthReserves$ 10,000Deposits$100,000Loans

33、100,000Debt20,000Securities40,000Equity30,00051. (Table: Bank Balance Sheet) Based on the table, what is the leverage ratio at the bank?A) 3B) 4.67C) 5D) 1052. (Table: Bank Balance Sheet) Based on the table, what is the reserve-deposit ratio at the bank?A) 3 percentB) 5 percentC) 10 percentD) 15 per

34、cent53. (Table: Bank Balance Sheet) Based on the table, owners equity will fall to zero if loan defaults reduce the value of total assets by _ percent.A) 10B) 20C) 30D) 4054. The amount of capital that banks are required to hold depends on the:A) amount of deposits held at a bank.B) riskiness of the

35、 banks assets.C) reserve requirements set by the Fed.D) level of deposit insurance coverage.55. The monetary base consists of:A) currency held by the public, plus reserves held by banks.B) all outstanding currency, plus reserves held by banks.C) all outstanding currency, plus demand deposits.D) all

36、bank reserves.56. The size of monetary base is determined by:A) the Federal Reserve.B) the Federal Reserve and banks.C) preferences of households about the form of money they wish to hold.D) business policies of banks and the laws regulating banks.57. If currency held by the public equals $100 billi

37、on, reserves held by banks equal $50 billion, and bank deposits equal $500 billion, then the monetary base equals:A) $50 billion.B) $100 billion.C) $150 billion.D) $600 billion.58. If currency held by the public equals $100 billion, reserves held by banks equal $50 billion, and bank deposits equal $

38、500 billion, then the money supply equals:A) $100 billion.B) $150 billion.C) $600 billion.D) $650 billion.59. The reservedeposit ratio is determined by:A) the Federal Reserve.B) business policies of banks and the laws regulating banks.C) preferences of households about the form of money they wish to

39、 hold.D) the Federal Deposit Insurance Corporation (FDIC).60. The currencydeposit ratio is determined by:A) the Federal Reserve.B) business policies of banks and the laws regulating banks.C) preferences of households about the form of money they wish to hold.D) the Federal Deposit Insurance Corporat

40、ion (FDIC).61. The preferences of households determine the:A) reservedeposit ratio.B) currencydeposit ratio.C) size of the monetary base.D) loandeposit ratio.62. If the monetary base is denoted byB, rr is the ratio of reserves to deposits, andcr is the ratio of currency to deposits, then the money s

41、upply is equal to _ divided by_ multiplied by B.A) (rr + 1); (rr + cr)B) (cr + 1); (cr + rr )C) (rr + cr); (rr + 1)D) (rr + cr); (cr + 1)63. The ratio of the money supply to the monetary base is called:A) the currencydeposit ratio.B) the reservedeposit ratio.C) high-powered money.D) the money multip

42、lier.64. High-powered money is another name for:A) currency.B) demand deposits.C) the monetary base.D) M2.65. If the ratio of reserves to deposits rr( ) increases, while the ratio of currency to deposits (cr) is constant and the monetary baseB)( is constant, then:A) it cannot be determined whether t

43、he money supply increases or decreases.B) the money supply increases.C) the money supply decreases.D) the money supply does not change.66. If the ratio of currency to deposits (cr) increases, while the ratio of reserves to deposits (rr ) is constant and the monetary baseB)( is constant, then:A) it c

44、annot be determined whether the money supply increases or decreases.B) the money supply increases.C) the money supply decreases.D) the money supply does not change.67. The money supply will increase if the:A) currencydeposit ratio increases.B) reservedeposit ratio increases.C) monetary base increase

45、s.D) discount rate increases.68. The money supply will decrease if the:A) monetary base increases.B) currencydeposit ratio increases.C) discount rate decreases.D) reservedeposit ratio decreases.69. If the reservedeposit ratio is less than one, and the monetary base increases by $1 million, then the

46、money supply will:A) increase by $1 million.B) decrease by $1 million.C) increase by more than $1 million.D) decrease by more than $1 million.70. If the currencydeposit ratio equals 0.5 and the reservedeposit ratio equals 0.1, then the money multiplier equals:A) 0.6.B) 1.67.C) 2.0.D) 2.5.71. If the

47、monetary base equals $400 billion and the money multiplier equals 2, then the money supply equals:A) $200 billion.B) $400 billion.C) $800 billion.D) $1,000 billion.72. When the Fed makes an open-market sale, it:A) increases the money multiplier (m).B) increases the currencydeposit ratio (cr).C) incr

48、eases the monetary baseB)(.D) decreases the monetary baseB)(.73. If you hear in the news that the Federal Reserve conducted open-market purchases, then you should expect _ to increase.A) reserve requirementsB) the discount rateC) the money supplyD) the reservedeposit ratio74. When the Federal Reserv

49、e conducts an open-market purchase, it buys bonds from the:A) public.B) U.S. Treasury.C) Internal Revenue Service.D) International Monetary Fund.75. For borrowing from the discount window, the Fed sets the _ of borrowing, compared to borrowing using the Term Auction Facility, where the Fed sets the

50、_of borrowing.A) maximum quantity; minimum quantityB) minimum price; maximum priceC) quantity; priceD) price; quantity76. When banks borrow through the Term Auction Facility, the price of borrowing is determined by:A) the Federal Reserve.B) a competitive bidding process.C) the difference between the

51、 discount rate and the interest rate on three-month Treasury securities.D) open-market operations.77. The more funds that the Federal Reserve makes available for banks to borrow through the Term Auction Facility, the _ the monetary base and the _ the money supply.A) smaller; smallerB) smaller; great

52、erC) greater; greaterD) greater; smaller78. Two ways for banks to borrow reserves from the Federal Reserve are through:A) the discount window and the Term Auction Facility.B) open-market operations and excess reserve swaps.C) decreasing the reservedeposit ratio and decreasing the currencydeposit ratio.D) fractional-reserve banking