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1.Money solves the problem of double coincidence of wants that would regularly occur under a system of A.credit cards B. Debit cards C. Money or D.Barter
2. Credit Cards. Credit cards are not considered part of the money supply because:
they are a unit of account.
they represent a store of value.
they are a loan which you have to use money to pay for later.
they make it easier to conduct business.
3. Currency and Underground Economy. People that engage in illegal transactions prefer to use currency relative to other forms of money. Which of the following is not a reason illegal transactions are usually made in currency?
Currency can be used to make other transactions.
It is not easy to track transactions made with currency.
People know the value of currency.
It is easy to track transactions made with currency.
4. If the reserve ratio is
and a deposit of
is placed into a bank, that bank can lend out
5. Money Market Mutual Funds, Banks, and Reserves. Money market mutual funds typically invest in government securities and other financial instruments that can be easily bought and sold. They are not subject to reserve requirements and, in fact, hold minimal reserves. Banks, on the other hand, make loans to businesses for investment purposes.
Prior to 2008, banks did not normally earn interest on reserves.
Suppose that banks still do not earn any interest on reserves. If there were no reserve requirements for banks, how do you think their reserve holdings would compare to money market mutual funds?
The level of bank reserve holdings would be similar to those held by money market mutual funds since banks can earn more money by keeping reserves at minimal levels.
The level of bank reserve holdings would be lower than those held by money market mutual funds since banks can borrow from each other.
The level of bank reserve holdings would still be higher than those held by money market mutual funds since banks have to provide funds to depositors.
The level of bank reserve holdings would be higher than those held by money market mutual funds since bank lending is riskier than investments of money market mutual funds.
6. If a bank has
billion in demand deposits and required reserves are
the maximum amount of money it can lend is
7. The Treasury Secretary and the Fed. Occasionally, some economists or politicians suggest that the Secretary of the Treasury become a member of the Federal Open Market Committee. This would most likely
have no impact on
the independence of the Federal Reserve.
8. Where Should Regional Banks Be Located Today? Given the changes in the location of economic activity that have occurred since the founding of the Federal Reserve, how would the location of the regional banks change if they were allocated by economic activity?
The locations of the banks and the branches would be
since economic activity has geographically shifted. There would probably be more banks in the
district would be smaller, or have more banks.
9. Which of the following is NOT a function of the Federal Reserve?
conducting monetary policy
lending money to individuals who can not receive loans from anyone else
ensuring check clearing
distributing new currency for the U.S. Treasury Department, which prints it
10. In the banking system, when clearing checks, the difference between the Federal Reserve’s credits and debits is the:
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