Ch 13 Money And Banking

10 Questions  I  By Ecofanics on April 11, 2009
Ch 13 of McConnell and Brue.

  
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1.  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.
2.  Currency and checkable deposits are money because they are acceptable to sellers in exchange for goods and services.
A.
B.
3.  At times, the Fed lends money to banks and thrifts, charging them an interest rate called the bank and thrift rate.
A.
B.
4.  The money supply designated M1 is the sum of currency and noncheckable deposits.
A.
B.
5.  The Federal Reserve Banks are the bankers' banks because they make loans to and accept deposits from depository institutions.
A.
B.
6.  The checkable deposit of the Federal government at the Federal Reserve Banks are a component of M1.
A.
B.
7.  If a coin is token money, its face value is less than its intrinsic value.
A.
B.
8.  In recent years, banks and thrifts have increased their share of the financial services indurty and control of financial assets.
A.
B.
9.  Members of the Board of Governors of the Federal Reserve System are appointed by the president and confirmed by the senate.
A.
B.
10.  The Federal Open Market Committee is responsible for keeping the stock market open and regulated.
A.
B.
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