Ch 13 Money And Banking

10 Questions  I  By Ecofanics
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Money Quizzes & Trivia
Ch 13 of McConnell and Brue.

  
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1.  Members of the Board of Governors of the Federal Reserve System are appointed by the president and confirmed by the senate.
A.
B.
2.  Congress established the Fed as an independent agency to protect it from political pressure so that it can effectively control the money supply and maintain price stability.
A.
B.
3.  If a coin is token money, its face value is less than its intrinsic value.
A.
B.
4.  A small time deposit is one that is less than $100,000.
A.
B.
5.  The currency component of M1 includes both coins and paper money.
A.
B.
6.  An increase in the price level would, ceteris paribus, increase the transactions demand for money.
A.
B.
7.  It is expected that electronic money will reduce the problems for the Fed in controlling the money supply.
A.
B.
8.  The money supply designated M1 is the sum of currency and noncheckable deposits.
A.
B.
9.  If money is to have a fairly stable value, its supply must be limited relative to the demand for it.
A.
B.
10.  An increase in the nominal GDP, ceteris paribus, will increase both the total demand for money and the equilibrium rate of interest in the economy.
A.
B.
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