2022年度MishkinTBch14米什金货币金融学题库

1、The Economics of Money, Banking, and Financial Markets, 9e (Mishkin)Chapter 14 The Money Supply Process 14.1 Three Players in the Money Supply Process1) The government agency that oversees the banking system and is responsible for the conduct of monetary policy in the United States isA) the Federal

2、Reserve System.B) the United States Treasury.C) the U.S. Gold Commission.D) the House of Representatives.Answer: AQues Status: Previous Edition2) Individuals that lend funds to a bank by opening a checking account are calledA) policyholders.B) partners.C) depositors.D) debt holders.Answer: CQues Sta

3、tus: Previous Edition3) The three players in the money supply process includeA) banks, depositors, and the U.S. Treasury.B) banks, depositors, and borrowers.C) banks, depositors, and the central bank.D) banks, borrowers, and the central bank.Answer: CQues Status: Revised4) Of the three players in th

4、e money supply process, most observers agree that the most important player isA) the United States Treasury.B) the Federal Reserve System.C) the FDIC.D) the Office of Thrift Supervision.Answer: BQues Status: Revised14.2 The Fed's Balance Sheet 1) Both _ and _ are Federal Reserve assets.A) curren

5、cy in circulation; reservesB) currency in circulation; government securitiesC) government securities; discount loansD) government securities; reservesAnswer: CQues Status: Previous Edition2) The monetary liabilities of the Federal Reserve includeA) government securities and discount loans.B) currenc

6、y in circulation and reserves.C) government securities and reserves.D) currency in circulation and discount loans.Answer: BQues Status: Previous Edition3) Both _ and _ are monetary liabilities of the Fed.A) government securities; discount loansB) currency in circulation; reservesC) government securi

7、ties; reservesD) currency in circulation; discount loansAnswer: BQues Status: Previous Edition4) The sum of the Fed's monetary liabilities and the U.S. Treasury's monetary liabilities is calledA) the money supply.B) currency in circulation.C) bank reserves.D) the monetary base.Answer: DQues

8、Status: Previous Edition5) The monetary base consists ofA) currency in circulation and Federal Reserve notes.B) currency in circulation and the U.S. Treasury's monetary liabilities.C) currency in circulation and reserves.D) reserves and Federal Reserve Notes.Answer: CQues Status: Previous Editio

9、n6) Total reserves minus bank deposits with the Fed equalsA) vault cash.B) excess reserves.C) required reserves.D) currency in circulation.Answer: AQues Status: Previous Edition7) Reserves are equal to the sum ofA) required reserves and excess reserves.B) required reserves and vault cash reserves.C)

10、 excess reserves and vault cash reserves.D) vault cash reserves and total reserves.Answer: AQues Status: Previous Edition8) Total reserves are the sum of _ and _.A) excess reserves; borrowed reservesB) required reserves; currency in circulationC) vault cash; excess reservesD) excess reserves; requir

11、ed reservesAnswer: DQues Status: Revised9) Excess reserves are equal toA) total reserves minus discount loans.B) vault cash plus deposits with Federal Reserve banks minus required reserves.C) vault cash minus required reserves.D) deposits with the Fed minus vault cash plus required reserves.Answer:

12、BQues Status: Previous Edition10) Total Reserves minus vault cash equalsA) bank deposits with the Fed.B) excess reserves.C) required reserves.D) currency in circulation.Answer: AQues Status: Previous Edition11) The amount of deposits that banks must hold in reserve isA) excess reserves.B) required r

13、eserves.C) total reserves.D) vault cash.Answer: BQues Status: Previous Edition12) The percentage of deposits that banks must hold in reserve is theA) excess reserve ratio.B) required reserve ratio.C) total reserve ratio.D) currency ratio.Answer: BQues Status: Previous Edition13) Suppose that from a

14、new checkable deposit, First National Bank holds two million dollars in vault cash, eight million dollars on deposit with the Federal Reserve, and one million dollars in required reserves. Given this information, we can say First National Bank has _ million dollars in excess reserves.A) threeB) nine

15、C) tenD) elevenAnswer: BQues Status: Previous Edition14) Suppose that from a new checkable deposit, First National Bank holds two million dollars in vault cash, eight million dollars on deposit with the Federal Reserve, and one million dollars in required reserves. Given this information, we can say

16、 First National Bank faces a required reserve ratio of _ percent.A) tenB) twentyC) eightyD) ninetyAnswer: AQues Status: Previous Edition15) Suppose that from a new checkable deposit, First National Bank holds two million dollars in vault cash, eight million dollars on deposit with the Federal Reserv

17、e, and nine million dollars in excess reserves. Given this information, we can say First National Bank has _ million dollars in required reserves.A) oneB) twoC) eightD) tenAnswer: AQues Status: Previous Edition16) Suppose that from a new checkable deposit, First National Bank holds two million dolla

18、rs in vault cash, eight million dollars on deposit with the Federal Reserve, and nine million dollars in excess reserves. Given this information, we can say First National Bank faces a required reserve ratio of _ percent.A) tenB) twentyC) eightyD) ninetyAnswer: AQues Status: Previous Edition17) Supp

19、ose that from a new checkable deposit, First National Bank holds eight million dollars on deposit with the Federal Reserve, one million dollars in required reserves, and faces a required reserve ratio of ten percent. Given this information, we can say First National Bank has _ million dollars in exc

20、ess reserves.A) twoB) eightC) nineD) tenAnswer: CQues Status: Previous Edition18) Suppose that from a new checkable deposit, First National Bank holds eight million dollars on deposit with the Federal Reserve, one million dollars in required reserves, and faces a required reserve ratio of ten percen

21、t. Given this information, we can say First National Bank has _ million dollars in vault cash.A) twoB) eightC) nineD) tenAnswer: AQues Status: Previous Edition19) Suppose that from a new checkable deposit, First National Bank holds two million dollars in vault cash, nine million dollars in excess re

22、serves, and faces a required reserve ratio of ten percent. Given this information, we can say First National Bank has _ million dollars in required reserves.A) oneB) twoC) eightD) tenAnswer: AQues Status: Previous Edition20) Suppose that from a new checkable deposit, First National Bank holds two mi

23、llion dollars in vault cash, nine million dollars in excess reserves, and faces a required reserve ratio of ten percent. Given this information, we can say First National Bank has _ million dollars on deposit with the Federal Reserve.A) oneB) twoC) eightD) tenAnswer: CQues Status: Previous Edition21

24、) Suppose that from a new checkable deposit, First National Bank holds two million dollars in vault cash, one million dollars in required reserves, and faces a required reserve ratio of ten percent. Given this information, we can say First National Bank has _ million dollars in excess reserves.A) on

25、eB) twoC) nineD) tenAnswer: CQues Status: Previous Edition22) Suppose that from a new checkable deposit, First National Bank holds two million dollars in vault cash, one million dollars in required reserves, and faces a required reserve ratio of ten percent. Given this information, we can say First

26、National Bank has _ million dollars on deposit with the Federal Reserve.A) oneB) twoC) eightD) tenAnswer: CQues Status: Previous Edition23) Suppose that from a new checkable deposit, First National Bank holds eight million dollars on deposit with the Federal Reserve, nine million dollars in excess r

27、eserves, and faces a required reserve ratio of ten percent. Given this information, we can say First National Bank has _ million dollars in required reserves.A) oneB) twoC) nineD) tenAnswer: AQues Status: Previous Edition24) Suppose that from a new checkable deposit, First National Bank holds eight

28、million dollars on deposit with the Federal Reserve, nine million dollars in excess reserves, and faces a required reserve ratio of ten percent. Given this information, we can say First National Bank has _ million dollars in vault cash.A) oneB) twoC) nineD) tenAnswer: BQues Status: Previous Edition2

29、5) The interest rate the Fed charges banks borrowing from the Fed is theA) federal funds rate.B) Treasury bill rate.C) discount rate.D) prime rate.Answer: CQues Status: Previous Edition26) When banks borrow money from the Federal Reserve, these funds are calledA) federal funds.B) discount loans.C) f

30、ederal loans.D) Treasury funds.Answer: BQues Status: Previous Edition14.3 Control of the Monetary Base 1) The monetary base minus currency in circulation equalsA) reserves.B) the borrowed base.C) the nonborrowed base.D) discount loans.Answer: AQues Status: Previous Edition2) The monetary base minus

31、reserves equalsA) currency in circulation.B) the borrowed base.C) the nonborrowed base.D) discount loans.Answer: AQues Status: Previous Edition3) High-powered money minus reserves equalsA) reserves.B) currency in circulation.C) the monetary base.D) the nonborrowed base.Answer: BQues Status: Previous

32、 Edition4) High-powered money minus currency in circulation equalsA) reserves.B) the borrowed base.C) the nonborrowed base.D) discount loans.Answer: AQues Status: Previous Edition5) Purchases and sales of government securities by the Federal Reserve are calledA) discount loans.B) federal fund transf

33、ers.C) open market operations.D) swap transactions.Answer: CQues Status: Previous Edition6) When the Federal Reserve purchases a government bond from a bank, reserves in the banking system _ and the monetary base _, everything else held constant.A) increase; increasesB) increase; decreasesC) decreas

34、e; increasesD) decrease; decreasesAnswer: AQues Status: Previous Edition7) When the Federal Reserve sells a government bond to a bank, reserves in the banking system _ and the monetary base _, everything else held constant.A) increase; increasesB) increase; decreasesC) decrease; increasesD) decrease

35、; decreasesAnswer: DQues Status: Previous Edition8) When a bank sells a government bond to the Federal Reserve, reserves in the banking system _ and the monetary base _, everything else held constant.A) increase; increasesB) increase; decreasesC) decrease; increasesD) decrease; decreasesAnswer: AQue

36、s Status: Previous Edition9) When a bank buys a government bond from the Federal Reserve, reserves in the banking system _ and the monetary base _, everything else held constant.A) increase; increasesB) increase; decreasesC) decrease; increasesD) decrease; decreasesAnswer: DQues Status: Previous Edi

37、tion10) When the Fed buys $100 worth of bonds from First National Bank, reserves in the banking systemA) increase by $100.B) increase by more than $100.C) decrease by $100.D) decrease by more than $100.Answer: AQues Status: Previous Edition11) When the Fed sells $100 worth of bonds to First National

38、 Bank, reserves in the banking systemA) increase by $100.B) increase by more than $100.C) decrease by $100.D) decrease by more than $100.Answer: CQues Status: Previous Edition12) If a person selling bonds to the Fed cashes the Fed's check, then reserves _ and currency in circulation _, everythin

39、g else held constant.A) remain unchanged; declinesB) remain unchanged; increasesC) decline; remains unchangedD) increase; remains unchangedAnswer: BQues Status: Previous Edition13) The effect of an open market purchase on reserves differs depending on how the seller of the bonds keeps the proceeds.

40、If the proceeds are kept in _, the open market purchase has no effect on reserves; if the proceeds are kept as _, reserves increase by the amount of the open market purchase.A) deposits; depositsB) deposits; currencyC) currency; depositsD) currency; currencyAnswer: CQues Status: Previous Edition14)

41、The effect of an open market purchase on reserves differs depending on how the seller of the bonds keeps the proceeds. If the proceeds are kept in currency, the open market purchase _ reserves; if the proceeds are kept as deposits, the open market purchase _ reserves.A) has no effect on; has no effe

42、ct onB) has no effect on; increasesC) increases; has no effect onD) decreases; increasesAnswer: BQues Status: Previous Edition15) When an individual sells a $100 bond to the Fed, she may either deposit the check she receives or cash it for currency. In both casesA) reserves increase.B) high-powered

43、money increases.C) reserves decrease.D) high-powered money decreases.Answer: BQues Status: Previous Edition16) If a member of the nonbank public sells a government bond to the Federal Reserve in exchange for currency, the monetary base will _, but _.A) remain unchanged; reserves will fallB) remain u

44、nchanged; reserves will riseC) rise; currency in circulation will remain unchangedD) rise; reserves will remain unchangedAnswer: DQues Status: Previous Edition17) If a member of the nonbank public purchases a government bond from the Federal Reserve in exchange for currency, the monetary base will _

45、, but reserves will _.A) remain unchanged; riseB) remain unchanged; fallC) rise; remain unchangedD) fall; remain unchangedAnswer: DQues Status: Previous Edition18) For which of the following is the change in reserves necessarily different from the change in the monetary base?A) Open market purchases

46、 from a bankB) Open market purchases from an individual who deposits the check in a bankC) Open market purchases from an individual who cashes the checkD) Open market sale to a bankAnswer: CQues Status: Previous Edition19) When a member of the nonbank public withdraws currency from her bank account,

47、A) both the monetary base and bank reserves fall.B) both the monetary base and bank reserves rise.C) the monetary base falls, but bank reserves remain unchanged.D) bank reserves fall, but the monetary base remains unchanged.Answer: DQues Status: Previous Edition20) When a member of the nonbank publi

48、c deposits currency into her bank account,A) both the monetary base and bank reserves fall.B) both the monetary base and bank reserves rise.C) the monetary base falls, but bank reserves remain unchanged.D) bank reserves rise, but the monetary base remains unchanged.Answer: DQues Status: Previous Edi

49、tion21) When the Fed extends a $100 discount loan to the First National Bank, reserves in the banking systemA) increase by $100.B) increase by more than $100.C) decrease by $100.D) decrease by more than $100.Answer: AQues Status: Previous Edition22) All else the same, when the Fed calls in a $100 di

50、scount loan previously extended to the First National Bank, reserves in the banking systemA) increase by $100.B) increase by more than $100.C) decrease by $100.D) decrease by more than $100.Answer: CQues Status: Previous Edition23) When the Federal Reserve extends a discount loan to a bank, the mone

51、tary base _ and reserves _.A) remains unchanged; decreaseB) remains unchanged; increaseC) increases; increaseD) increases; remain unchangedAnswer: CQues Status: Previous Edition24) When the Federal Reserve calls in a discount loan from a bank, the monetary base _ and reserves _.A) remains unchanged;

52、 decreaseB) remains unchanged; increaseC) decreases; decreaseD) decreases; remains unchangedAnswer: CQues Status: Previous Edition25) If the Fed decides to reduce bank reserves, it canA) purchase government bonds.B) extend discount loans to banks.C) sell government bonds.D) print more currency.Answe

53、r: CQues Status: Previous Edition26) There are two ways in which the Fed can provide additional reserves to the banking system: it can _ government bonds or it can _ discount loans to commercial banks.A) sell; extendB) sell; call inC) purchase; extendD) purchase; call inAnswer: CQues Status: Previou

54、s Edition27) A decrease in _ leads to an equal _ in the monetary base in the short run.A) float; increaseB) float; decreaseC) Treasury deposits at the Fed; decreaseD) discount loans; increaseAnswer: BQues Status: Previous Edition28) The monetary base declines whenA) the Fed extends discount loans.B)

55、 Treasury deposits at the Fed decrease.C) float increases.D) the Fed sells securities.Answer: DQues Status: Previous Edition29) An increase in _ leads to an equal _ in the monetary base in the short run.A) float; decreaseB) float; increaseC) discount loans; decreaseD) Treasury deposits at the Fed; increaseAnswer: BQues Status: Previous Edition30) A decrease in _ leads to an equal