米什金货币金融学英文版习题答案chapter14英文习题Word下载.docx
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米什金货币金融学英文版习题答案chapter14英文习题Word下载.docx
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A)theFirstBankoftheUnitedStatesandtheSecondBankoftheUnitedStates.
B)theFirstBankoftheUnitedStatesandtheCentralBankoftheUnitedStates.
C)theFirstCentralBankoftheUnitedStatesandtheSecondCentralBankoftheUnitedStates.
D)theFirstBankofNorthAmericaandtheSecondBankofNorthAmerica.
4)Thefinancialpanicof1907resultedinsuchwidespreadbankfailuresandsubstantiallossestodepositorsthattheAmericanpublicfinallybecameconvincedthat
A)theFirstBankoftheUnitedStateshadfailedtoserveasalenderoflastresort.
B)theSecondBankoftheUnitedStateshadfailedtoserveasalenderoflastresort.
C)theFederalReserveSystemhadfailedtoserveasalenderoflastresort.
D)acentralbankwasneededtopreventfuturepanics.
D
5)WhatmakestheFederalReservesouniquecomparedtoothercentralbanksaroundtheworldisits
A)centralizedstructure.
B)decentralizedstructure.
C)regulatoryfunctions.
D)monetarypolicyfunctions.
14.2StructureoftheFederalReserveSystem
1)WhichofthefollowingisNOTanentityoftheFederalReserveSystem?
A)FederalReserveBanks
B)theComptrolleroftheCurrency
C)theBoardofGovernors
D)theFederalOpenMarketCommittee
2)WhichofthefollowingisanentityoftheFederalReserveSystem?
A)theU.S.TreasurySecretary
B)theFOMC
C)theComptrolleroftheCurrency
D)theFDICAnswer:
BAACSB:
3)ThethreelargestFederalReservebanks(NewYork,Chicago,andSanFrancisco)combinedholdmorethanpercentoftheassetsoftheFederalReserveSystem.
A)25
B)33
C)50
D)67Answer:
CAACSB:
AnalyticalThinking
4)TheFederalReserveBanksareinstitutionssincetheyareownedbythe
A)quasi-public;
privatecommercialbanksinthedistrictwheretheReserveBankislocated
B)public;
C)quasi-public;
BoardofGovernors
D)public;
BoardofGovernorsAnswer:
5)EachFederalReservebankhasninedirectors.Oftheseareappointedbythe
memberbanksandareappointedbytheBoardofGovernors.
A)three;
six
B)four;
five
C)five;
four
D)six;
threeAnswer:
DAACSB:
6)TheninedirectorsoftheFederalReserveBanksaresplitintothreecategories:
are
professionalbankers,areleadersfromindustry,andaretorepresentthe
publicinterestandarenotallowedtobeofficers,employees,orstockholdersofbanks.
A)5;
2;
2
B)2;
5;
C)4;
3
D)3;
3;
7)MembercommercialbankshavepurchasedstockintheirdistrictFedbanks;
thedividendpaidbythatstockislimitedbylawtopercentannually.
A)four
B)five
C)six
D)eight
C
8)TheFederalReserveBankofhousestheopenmarketdesk.
A)Boston
B)NewYork
C)Chicago
D)SanFrancisco
9)ThepresidentfromwhichFederalReserveBankalwayshasavoteintheFederalOpenMarketCommittee?
A)Philadelphia
B)Boston
C)SanFrancisco
D)NewYork
10)AnimportantfunctionoftheregionalFederalReserveBanksis
A)settingreserverequirements.
B)clearingchecks.
C)determiningmonetarypolicy.
D)settingmarginrequirements.
11)WhichofthefollowingfunctionsisNOTperformedbyanyofthetwelveregionalFederalReserveBanks?
A)checkclearing
B)conductingeconomicresearch
C)settinginterestratespayableontimedeposits
D)issuingnewcurrency
12)AllarerequiredtobemembersoftheFed.
A)statecharteredbanks
B)nationalbankscharteredbytheOfficeoftheComptrolleroftheCurrency
C)bankswithassetslessthan$100million
D)bankswithassetslessthan$500millionAnswer:
13)Ofallcommercialbanks,aboutbelongtotheFederalReserveSystem.
A)10%
B)onehalf
C)onethird
D)90%
14)Priorto1980,memberbankslefttheFederalReserveSystemdueto
A)thehighcostofdiscountloans.
B)thehighcostofrequiredreserves.
C)adesiretoavoidinterestrateregulations.
D)adesiretoavoidcreditcontrols.
15)TheFed'
ssupportoftheDepositoryInstitutionsDeregulationandMonetaryControlActof1980stemmedinpartfromits
A)concernoverdecliningFedmembership.
B)beliefthatallbankingregulationsshouldbeeliminated.
C)beliefthatinterestrateceilingsweretoohigh.
D)beliefthatdepositorshadtobecomemoreknowledgeableofbankingoperations.Answer:
16)BankssubjecttoreserverequirementssetbytheFederalReserveSysteminclude
A)onlynationallycharteredbanks.
B)onlybankswithassetslessthan$100million.
C)onlybankswithassetslessthan$500million.
D)allbankswhetherornottheyaremembersoftheFederalReserveSystem.Answer:
17)TheDepositoryInstitutionsDeregulationandMonetaryControlActof1980
A)establishedhigherreserverequirementsfornonmemberthanformemberbanks.
B)establishedhigherreserverequirementsformemberthanfornonmemberbanks.
C)abolishedreserverequirements.
D)establisheduniformreserverequirementsforallbanks.
18)TherearemembersoftheBoardofGovernorsoftheFederalReserveSystem.
A)5
B)7
C)12
D)19
19)MembersoftheBoardofGovernorsare
A)chosenbytheFederalReserveBankpresidents.
B)appointedbythenewlyelectedpresidentoftheUnitedStates,asarecabinetpositions.
C)appointedbythepresidentoftheUnitedStatesandconfirmedbytheSenate.
D)neverallowedtoservemorethan7-yearterms.
20)EachgovernorontheBoardofGovernorscanserve
A)onlyonenonrenewablefourteen-yearterm.
B)onefullnonrenewablefourteen-yeartermpluspartofanotherterm.
C)onlyonenonrenewableeight-yearterm.
D)onefullnonrenewableeight-yeartermpluspartofanotherterm.Answer:
21)TheChairmanoftheBoardofGovernorsischosenfromamongthesevengovernorsandservesa,renewableterm.
A)one-year
B)two-year
C)four-year
D)eight-yearAnswer:
22)Whilethediscountrateis"
established"
bytheregionalFederalReserveBanks,intruth,therateisdeterminedby
A)Congress.
B)thepresidentoftheUnitedStates.
C)theSenate.
D)theBoardofGovernors.
23)WhichofthefollowingsisadutyoftheBoardofGovernorsoftheFederalReserveSystem?
A)settingmarginrequirements,thefractionofthepurchasepriceofthesecuritiesthathastobepaidforwithcash
B)settingthemaximuminterestratespayableoncertaintypesoftimedepositsunderRegulationQ
C)regulatingcreditwiththeapprovalofthepresidentundertheCreditControlActof1969
D)AllgovernorsadvisethepresidentoftheUnitedStatesoneconomicpolicy.Answer:
24)WhichofthefollowingsisNOTacurrentdutyoftheBoardofGovernorsoftheFederalReserveSystem?
C)approvingthediscountrate"
bytheFederalReservebanks
D)votingontheconductofopenmarketoperationsAnswer:
25)TheFederalOpenMarketCommitteeusuallymeetstimesayear.
B)six
C)eight
D)twelveAnswer:
26)TheFederalReserveentitythatmakesdecisionsregardingtheconductofopenmarketoperationsisthe
A)BoardofGovernors.
B)chairmanoftheBoardofGovernors.
C)FederalOpenMarketCommittee.
D)OpenMarketAdvisoryCouncil
27)TheFederalOpenMarketCommitteeconsistsofthe
A)fiveseniormembersoftheseven-memberBoardofGovernors.
B)sevenmembersoftheBoardofGovernorsandsevenpresidentsoftheregionalFedbanks.
C)sevenmembersoftheBoardofGovernorsandfivepresidentsoftheregionalFedbanks.
D)twelveregionalFedbankpresidentsandthechairmanoftheBoardofGovernors.Answer:
28)ThemajorityofmembersoftheFederalOpenMarketCommitteeare
A)FederalReserveBankpresidents.
B)membersoftheFederalAdvisoryCouncil.
C)presidentsofmemberbanks.
D)thesevenmembersoftheBoardofGovernors.
29)EachFedbankpresidentattendsFOMCmeetings;
althoughonlyFedbank
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