米什金 货币金融学 英文版习题答案chapter 15英文习题.docx
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米什金 货币金融学 英文版习题答案chapter 15英文习题.docx
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米什金货币金融学英文版习题答案chapter15英文习题
EconomicsofMoney,Banking,andFinancialMarkets,11e,GlobalEdition(Mishkin)
Chapter15TheMoneySupplyProcess
15.1ThreePlayersintheMoneySupplyProcess
1)ThegovernmentagencythatoverseesthebankingsystemandisresponsiblefortheconductofmonetarypolicyintheUnitedStatesis
A)theFederalReserveSystem.
B)theUnitedStatesTreasury.
C)theU.S.GoldCommission.
D)theHouseofRepresentatives.
Answer:
A
AACSB:
ReflectiveThinking
2)Individualsthatlendfundstoabankbyopeningacheckingaccountarecalled
A)policyholders.
B)partners.
C)depositors.
D)debtholders.
Answer:
C
AACSB:
ReflectiveThinking
3)Thethreeplayersinthemoneysupplyprocessinclude
A)banks,depositors,andtheU.S.Treasury.
B)banks,depositors,andborrowers.
C)banks,depositors,andthecentralbank.
D)banks,borrowers,andthecentralbank.
Answer:
C
AACSB:
ReflectiveThinking
4)Ofthethreeplayersinthemoneysupplyprocess,mostobserversagreethatthemostimportantplayeris
A)theUnitedStatesTreasury.
B)theFederalReserveSystem.
C)theFDIC.
D)theOfficeofThriftSupervision.
Answer:
B
AACSB:
ReflectiveThinking
15.2TheFed'sBalanceSheet
1)Both________and________areFederalReserveassets.
A)currencyincirculation;reserves
B)currencyincirculation;securities
C)securities;loanstofinancialinstitutions
D)securities;reserves
Answer:
C
AACSB:
ReflectiveThinking
2)ThemonetaryliabilitiesoftheFederalReserveinclude
A)securitiesandloanstofinancialinstitutions.
B)currencyincirculationandreserves.
C)securitiesandreserves.
D)currencyincirculationandloanstofinancialinstitutions.
Answer:
B
AACSB:
ReflectiveThinking
3)Both________and________aremonetaryliabilitiesoftheFed.
A)securities;loanstofinancialinstitutions
B)currencyincirculation;reserves
C)securities;reserves
D)currencyincirculation;loanstofinancialinstitutions
Answer:
B
AACSB:
ReflectiveThinking
4)ThesumoftheFed'smonetaryliabilitiesandtheU.S.Treasury'smonetaryliabilitiesiscalled
A)themoneysupply.
B)currencyincirculation.
C)bankreserves.
D)themonetarybase.
Answer:
D
AACSB:
ReflectiveThinking
5)Themonetarybaseconsistsof
A)currencyincirculationandFederalReservenotes.
B)currencyincirculationandtheU.S.Treasury'smonetaryliabilities.
C)currencyincirculationandreserves.
D)reservesandFederalReserveNotes.
Answer:
C
AACSB:
ReflectiveThinking
6)TotalreservesminusbankdepositswiththeFedequals
A)vaultcash.
B)excessreserves.
C)requiredreserves.
D)currencyincirculation.
Answer:
A
AACSB:
AnalyticalThinking
7)Reservesareequaltothesumof
A)requiredreservesandexcessreserves.
B)requiredreservesandvaultcashreserves.
C)excessreservesandvaultcashreserves.
D)vaultcashreservesandtotalreserves.
Answer:
A
AACSB:
AnalyticalThinking
8)Totalreservesarethesumof________and________.
A)excessreserves;borrowedreserves
B)requiredreserves;currencyincirculation
C)vaultcash;excessreserves
D)excessreserves;requiredreserves
Answer:
D
AACSB:
ReflectiveThinking
9)Excessreservesareequalto
A)totalreservesminusdiscountloans.
B)vaultcashplusdepositswithFederalReservebanksminusrequiredreserves.
C)vaultcashminusrequiredreserves.
D)depositswiththeFedminusvaultcashplusrequiredreserves.
Answer:
B
AACSB:
AnalyticalThinking
10)TotalReservesminusvaultcashequals
A)bankdepositswiththeFed.
B)excessreserves.
C)requiredreserves.
D)currencyincirculation.
Answer:
A
AACSB:
AnalyticalThinking
11)Theamountofdepositsthatbanksmustholdinreserveis
A)excessreserves.
B)requiredreserves.
C)totalreserves.
D)vaultcash.
Answer:
B
AACSB:
ReflectiveThinking
12)Thepercentageofdepositsthatbanksmustholdinreserveisthe
A)excessreserveratio.
B)requiredreserveratio.
C)totalreserveratio.
D)currencyratio.
Answer:
B
AACSB:
ReflectiveThinking
13)Supposethatfromanewcheckabledeposit,FirstNationalBankholdstwomilliondollarsinvaultcash,eightmilliondollarsondepositwiththeFederalReserve,andonemilliondollarsinrequiredreserves.Giventhisinformation,wecansayFirstNationalBankhas________milliondollarsinexcessreserves.
A)three
B)nine
C)ten
D)eleven
Answer:
B
AACSB:
AnalyticalThinking
14)Supposethatfromanewcheckabledeposit,FirstNationalBankholdstwomilliondollarsinvaultcash,eightmilliondollarsondepositwiththeFederalReserve,andonemilliondollarsinrequiredreserves.Giventhisinformation,wecansayFirstNationalBankfacesarequiredreserveratioof________percent.
A)ten
B)twenty
C)eighty
D)ninety
Answer:
A
AACSB:
AnalyticalThinking
15)Supposethatfromanewcheckabledeposit,FirstNationalBankholdstwomilliondollarsinvaultcash,eightmilliondollarsondepositwiththeFederalReserve,andninemilliondollarsinexcessreserves.Giventhisinformation,wecansayFirstNationalBankhas________milliondollarsinrequiredreserves.
A)one
B)two
C)eight
D)ten
Answer:
A
AACSB:
AnalyticalThinking
16)Supposethatfromanewcheckabledeposit,FirstNationalBankholdstwomilliondollarsinvaultcash,eightmilliondollarsondepositwiththeFederalReserve,andninemilliondollarsinexcessreserves.Giventhisinformation,wecansayFirstNationalBankfacesarequiredreserveratioof________percent.
A)ten
B)twenty
C)eighty
D)ninety
Answer:
A
AACSB:
AnalyticalThinking
17)Supposethatfromanewcheckabledeposit,FirstNationalBankholdseightmilliondollarsondepositwiththeFederalReserve,onemilliondollarsinrequiredreserves,andfacesarequiredreserveratiooftenpercent.Giventhisinformation,wecansayFirstNationalBankhas________milliondollarsinexcessreserves.
A)two
B)eight
C)nine
D)ten
Answer:
C
AACSB:
AnalyticalThinking
18)Supposethatfromanewcheckabledeposit,FirstNationalBankholdseightmilliondollarsondepositwiththeFederalReserve,onemilliondollarsinrequiredreserves,andfacesarequiredreserveratiooftenpercent.Giventhisinformation,wecansayFirstNationalBankhas________milliondollarsinvaultcash.
A)two
B)eight
C)nine
D)ten
Answer:
A
AACSB:
AnalyticalThinking
19)Supposethatfromanewcheckabledeposit,FirstNationalBankholdstwomilliondollarsinvaultcash,ninemilliondollarsinexcessreserves,andfacesarequiredreserveratiooftenpercent.Giventhisinformation,wecansayFirstNationalBankhas________milliondollarsinrequiredreserves.
A)one
B)two
C)eight
D)ten
Answer:
A
AACSB:
AnalyticalThinking
20)Supposethatfromanewcheckabledeposit,FirstNationalBankholdstwomilliondollarsinvaultcash,ninemilliondollarsinexcessreserves,andfacesarequiredreserveratiooftenpercent.Giventhisinformation,wecansayFirstNationalBankhas________milliondollarsondepositwiththeFederalReserve.
A)one
B)two
C)eight
D)ten
Answer:
C
AACSB:
AnalyticalThinking
21)Supposethatfromanewcheckabledeposit,FirstNationalBankholdstwomilliondollarsinvaultcash,onemilliondollarsinrequiredreserves,andfacesarequiredreserveratiooftenpercent.Giventhisinformation,wecansayFirstNationalBankhas________milliondollarsinexcessreserves.
A)one
B)two
C)nine
D)ten
Answer:
C
AACSB:
AnalyticalThinking
22)Supposethatfromanewcheckabledeposit,FirstNationalBankholdstwomilliondollarsinvaultcash,onemilliondollarsinrequiredreserves,andfacesarequiredreserveratiooftenpercent.Giventhisinformation,wecansayFirstNationalBankhas________milliondollarsondepositwiththeFederalReserve.
A)one
B)two
C)eight
D)ten
Answer:
C
AACSB:
AnalyticalThinking
23)Supposethatfromanewcheckabledeposit,FirstNationalBankholdseightmilliondollarsondepositwiththeFederalReserve,ninemilliondollarsinexcessreserves,andfacesarequiredreserveratiooftenpercent.Giventhisinformation,wecansayFirstNationalBankhas________milliondollarsinrequiredreserves.
A)one
B)two
C)nine
D)ten
Answer:
A
AACSB:
ReflectiveThinking
24)Supposethatfromanewcheckabledeposit,FirstNationalBankholdseightmilliondollarsondepositwiththeFederalReserve,ninemilliondollarsinexcessreserves,andfacesarequiredreserveratiooftenpercent.Giventhisinformation,wecansayFirstNationalBankhas________milliondollarsinvaultcash.
A)one
B)two
C)nine
D)ten
Answer:
B
AACSB:
AnalyticalThinking
25)TheinterestratetheFedchargesbanksborrowingfromtheFedisthe
A)federalfundsrate.
B)Treasurybillrate.
C)discountrate.
D)primerate.
Answer:
C
AACSB:
ReflectiveThinking
26)WhenbanksborrowmoneyfromtheFederalReserve,thesefundsarecalled
A)federalfunds.
B)discountloans.
C)federalloans.
D)Treasuryfunds.
Answer:
B
AACSB:
ReflectiveThinking
15.3ControloftheMonetaryBase
1)Themonetarybaseminuscurrencyincirculationequals
A)reserves.
B)theborrowedbase.
C)thenonborrowedbase.
D)discountloans.
Answer:
A
AACSB:
AnalyticalThinking
2)Themonetarybaseminusreservesequals
A)currencyincirculation.
B)theborrowedbase.
C)thenonborrowedbase.
D)discountloans.
Answer:
A
AACSB:
AnalyticalThinking
3)High-poweredmoneyminusreservesequals
A)reserves.
B)currencyincirculation.
C)themonetarybase.
D)thenonborrowedbase.
Answer:
B
AACSB:
AnalyticalThinking
4)High-poweredmoneyminuscurrencyincirculationequals
A)reserves.
B)theborrowedbase.
C)thenonborrowed
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