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macroeconomics quiz homework

Question # 00013951
Subject: Economics
Due on: 05/12/2014
Posted On: 04/30/2014 02:24 PM

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1.
The United States did not have a central bank until
A) 1900.
B) 1913.
C) 1929.
D) 1946.
E) 1973.
2.
There are _____ members of the Board of Governors of the Federal Reserve; each serves one _____ year term.
A) 7; 14
B) 14; 7
C) 7; 7
D) 14; 14
3.
The members of the Board of Governors are appointed by
A) the president.
B) Congress.
C) the Federal Reserve district banks.
D) the member banks.
4.
Open market operations are
A) the buying and selling of United States government securities by the Fed.
B) borrowing by banks from the Fed.
C) the selling of United States government securities by the United States Treasury.
D) raising or lowering reserve requirements by the Fed.
5.
When the Fed wants to increase the money supply it
A) raises the discount rate.
B) raises reserve requirements.
C) sells U.S. government securities.
D) buys U.S. government securities.
6.
The main job of the Fed is to
A) control the rate of growth of the money supply.
B) manage the national debt.
C) provide low-interest loans to all financial institutions.
D) None of the choices are correct.
7.
Which statement is true?
A) We have had a central bank since 1789.
B) We have never had a central bank.
C) Our central bank was formed in 1913.
D) None of the statements are true.
8.
Commercial banks tend to hold relatively small amounts of excess reserves because
A) the presence of such reserves tends to boost interest rates and reduce investment.
B) the Fed constantly uses open market operations to eliminate excess reserves.
C) the Fed does not pay interest on reserves.
D) the Fed does not want commercial banks to be too liquid.
9.
Statement I: The president basically makes monetary policy.Statement II: The Board of Governors of the Fed serves at the president's pleasure and can be summarily dismissed.
A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.
10.
Commercial banks are required by law to hold reserves. These reserves are specified as percentages of a bank's
A) total assets.
B) total liabilities.
C) checkable deposit liabilities.
D) holdings of government securities.
E) net worth.
11.
The rate of growth of our money supply is controlled by
A) the president.
B) Congress.
C) the Federal Reserve.
D) the United States Treasury.
E) tax legislation.
12.
The Federal Open Market Committee is made up of all of the following, except
A) the board of governors.
B) the chairman of the board of governors.
C) the president of the United States.
D) the president of the Federal Reserve Bank of New York.
E) the presidents of four Federal Reserve Banks other than the New York Bank.
13.
The Board of Governors of the Federal Reserve is independent of
A) both the President and Congress.
B) neither the President nor Congress.
C) the President, but not Congress.
D) Congress, but not the President.
14.
Which statement is true?
A) All large banks have to hold about 10 percent of their time deposits on reserve.
B) All small banks have to hold about 10 percent of their time deposits on reserve.
C) All banks have to hold about 10 percent of their time deposits on reserve.
D) None of the statements are true.
15.
Monetary policy consists of
A) actions taken by both the legislative and executive branches of government to control the nation's money supply.
B) actions taken by Congress to control the nation's money supply.
C) actions taken by the Federal Reserve System to control the nation's money supply.
D) actions taken by the executive branch of government to control the nation's money supply.
16.
The responsibility for monetary policy in the United States lies with
A) the president.
B) the presidents of the Federal Reserve Banks.
C) the chairman of the Board of Governors of the Federal Reserve System.
D) the Board of Governors of the Federal Reserve System.
E) both the president and the chairman of the Federal Reserve Board of Governors.
17.
Reserve requirements for checking accounts are ____ those on time deposits.
A) higher than
B) lower than
C) the same as
18.
The most powerful individual in the Federal Reserve System is the
A) senior member of the Federal Open Market Committee.
B) Superintendent of the Board of Governors.
C) Chairman of the Federal Reserve Board.
D) New York District Bank President.
19.
Banks that receive their charters from the federal government are called
A) official banks.
B) government banks.
C) state banks.
D) federal banks.
E) national banks.
20.
The agency directly responsible for monetary policy in the United States is
A) the twelve Federal Reserve Banks.
B) the Board of Governors of the Federal Reserve System.
C) the Congress of the United States.
D) the United States Treasury.

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Preview: from xxx Fed xx the selling xx United States xxxxxxxxxx securities xx xxx United xxxxxx Treasury D) xxxxxxx or lowering xxxxxxx requirements xx xxx Fed x When the xxx wants to xxxxxxxx the xxxxx xxxxxx itA) xxxxxx the discount xxxx B) raises xxxxxxx requirements xx xxxxx U x government securities xx buys U x government xxxxxxxxxx x The xxxx job of xxx Fed is xxxx control xxx xxxx of xxxxxx of the xxxxx supply B) xxxxxx the xxxxxxxx xxxx C) xxxxxxx low-interest loans xx all financial xxxxxxxxxxxx D) xxxx xx the xxxxxxx are correct x Which statement xx true?A) xx xxxx had x central bank xxxxx 1789 B) xx have xxxxx xxx a xxxxxxx bank C) xxx central bank xxx formed xx xxxx D) xxxx of the xxxxxxxxxx are true x Commercial xxxxx xxxx to xxxx relatively small xxxxxxx of excess xxxxxxxx becauseA) xxx xxxxxxxx of xxxx reserves tends xx boost interest xxxxx and xxxxxx xxxxxxxxxx B) xxx Fed constantly xxxx open.....
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