宏观经济 第29章货币制度(题目+答案+详解)

第29章货币制度

1. Which of the following functions of money is also a common function of most other financial assets?

A.a unit of account

B.a store of value

C.medium of exchange

D.None of the above is correct.

2. Which of the following is not included in either M1 or M2?

A.U.S. Treasury bills

B.small time deposits

C.demand deposits

D.money market mutual funds

3. Credit cards

A.defer payments.

B.are a store of value.

C.have led to wider use of currency.

D.are part of the money supply.

4. Which of the following is included in both M1 and M2?

A.savings deposits

B.demand deposits

C.small time deposits

D.money market mutual funds

5. The legal tender requirement means that

A.people are more likely to accept the dollar as a medium of exchange.

B.the government must hold enough gold to redeem all currency.

C.people may not make trades with anything else.

D.All of the above are correct.

答案：BAABA

解析：

1B：计价单位（a unit of account）：用来表示价格和记录债务的标准

交换媒介（medium of exchange）：购买商品时给卖家的东西

价值储藏手段（a store of value）：把现在的购买力转化为未来的购买力的东西，而货币并不是经济中唯一的价值储藏手段，股票、债券等也是价值储藏手段。

2A：M1和M2 是美国经济中货币存量的两种衡量标准。

M1：活期存款（demand deposit）+旅行支票（traveler’s checks）+其他支票存款（other checkable deposits）+通货（currency）

M2：M1（活期存款、旅行支票、其他支票、通货）+储蓄存款（saving deposits）+小

额定期存款（small time deposits）+货币市场共同基金（money market mutual funds）+几种不太重要的项目（a few minor categories）

3A：信用卡（Credit card）：信用卡并不是一种货币量的衡量指标。信用卡不是一种支付方式，而是一种延期支付方式。（the credit cards are not really a method of payment but a deferring payment）使用并提高信用卡的普及程度可以减少人们选择持有的货币量。

借记卡（Debit card）:借记卡上的账户余额包括在货币量的衡量中。借记卡更类似于支票而不是像信用卡。（the account balance that lie behind debit cards are included in measures of the quantity of money.a debit card is more similar to a check than to a credit card）

1. Which of the following entities actually executes open-market operations?

a. the Board of Governors

b. the New York Federal Reserve Bank

c. the Federal Open Market Committee

d. the Open Market Committees of the regional Federal Reserve Banks

2. Decisions by policymakers concerning the money supply constitute

a. monetary policy.

b. fiscal policy.

c. banking policy.

d. operations policy.

3. Over one time horizon or another, Fed policy decisions influence

a. inflation and employment.

b. inflation but not employment.

c. employment but not inflation.

d. neither inflation nor employment.

4. Which of the following is not correct?

a. The twelve regional Federal Reserve Banks play a role in regulating banks and ensuring the health of the banking system.

b. U.S. monetary policy is made by the Federal Open Market Committee.

c. The Federal Open Market Committee meets every 12 weeks.

d. All of the above are correct.

5. If the Federal Open Market Committee decides to increase the money supply, then the Federal Reserve

a. creates dollars and uses them to purchase government bonds from the public.

b. sells government bonds from its portfolio to the publi

c.

c. creates dollars and uses them to purchase various types of stocks and bonds from the public.

d. sells various types of stocks and bonds from its portfolio to the public.

6. The Federal Reserve does all except which of the following?

a. It controls the supply of money.

b. It acts as a lender of last resort to banks.

c. It makes loans to large business firms.

d. It tries to ensure the health of the banking system.

答案：BABCAC

解析

1B：公开市场委员会由美联储的7位理事和12个地银行总裁中的5位组成。其中纽约联邦储蓄银行的总裁总是拥有投票权，因为纽约是美国经济传统的金融中心，并且美联储的所有政府债券的买卖都在纽约联邦储备银行的交易柜台进行。

4C：决策者关于货币供给的决策构成货币政策。在美联储，货币政策是由联邦公开市场委员会制定的，联邦公开市场委员会每6周在华盛顿特区开一次会

6C：联邦储备一方面要管制银行并确保银行体系的正常运行；另一方面，是银行的银行。

1. Suppose a bank has a 10 percent reserve ratio, $5,000 in deposits, and it loans out all it can given the reserve ratio.

a. It has $50 in reserves and $4,950 in loans.

b. It has $500 in reserves and $4,500 in loans.

c. It has $555 in reserves and $4,445 in loans.

d. None of the above is correct.

2. If the reserve ratio is 5 percent and a bank receives a new deposit of $500, this bank

a. must increase its required reserves by $25.

b. will initially see its total reserves increase by $500.

c. will be able to make a new loan of $475.

d. All of the above are tru

e.

3. When a bank loans out $100, the money supply

a. does not change.

b. increases.

c. decreases.

d. may do any of the abov

e.

4. An open market sale

a. increases the money supply.

b. doesn't change the money supply.

c. decreases the money supply.

d. has an indeterminate effect on the money supply.

5. If $1,000 is deposited into the First Bank of Erehwon,

a. liabilities will decrease by $1,000.

b. assets will increase by $1,000.

c. total reserves will initially increase by $200.

d. required reserves will increase by $800.

6. If the reserve ratio is 12.5 percent, then $5,600 of money can be generated by

A. $64 of new reserves.

B. $448 of new reserves.

C. $700 of new reserves.

D. $800 of new reserves.

7. Under a fractional-reserve banking system, banks

a. hold more reserves than deposits.

b. generally lend out a majority of the funds deposited.

c. cause the money supply to fall by lending out reserves.

d. All of the above are correct.

8. When a bank loans out $1,000, the money supply

a.does not change.

b.decreases.

c.increases.

d.may do any of the abov

e.

9. If the reserve ratio for all banks is 12.5 percent, then $2,000 of additional reserves can create up to

a.$8,000 of new money.

b.$16,000 of new money.

c.$32,000 of new money.

d.None of the above is correct.

答案：BDBCB

CBCB

解析：

6 C：货币供给=货币乘数*总准备金=（1/准备金率）*总准备金

总准备金=货币供给*准备金率

1. If the Fed wanted to increase the money supply, it would make open market

a.purchases or lower the discount rate.

b.sales or lower the discount rate.

c.purchases or raise the discount rate.

d.sales or raise the discount rat

e.

2. Which of the following is not a tool of monetary policy?

a.open market operations

b.reserve requirements

c.changing the discount rate

d.increasing the government budget deficit

3. The discount rate is the interest rate that

a.banks charge one another for loans.

b.banks charge the Fed for loans.

c.the Fed charges banks for loans.

d.the Fed charges Congress for loans.

4, A bank’s liabilities include

a.both its reserves and the deposits of its customers.

b.neither its reserves nor the deposits of its customers.

c.its reserves, but not the deposits of its customers.

d.the deposits of its customers, but not its reserves.

答案：ADCD

1. If the reserve ratio is 15 percent, an additional $1,000 of reserves will increase the money supply by

a. $150.

b. $850.

c. $6,667.

d. $15,000.

2. If reserve requirements are increased, the reserve ratio

a. increases, the money multiplier increases, and the money supply increases.

b. increases, the money multiplier decreases, and the money supply decreases.

c. decreases, the money multiplier increases, and the money supply increases.

d. decreases, the money multiplier decreases, and the money supply increases.

3. When the Fed conducts open market purchases, bank reserves

a. increase and banks can increase lending.

b. increase and banks must decrease lending.

c. decrease and banks can increase lending.

d. decrease and banks must decrease lending.

4. During recessions, banks typically choose to hold more excess reserves relative to their deposits. This action

a. increases the money multiplier and increases the money supply.

b. decreases the money multiplier and decreases the money supply.

c. does not change the money multiplier, but increases the money supply.

d. does not change the money multiplier, but decreases the money supply.

5. Which of the following is not included in M1?

a. currency

b. demand deposits

c. savings deposits

d. None of the above is included in M1.

6. The agency responsible for regulating the money supply in the United States is

a. the Comptroller of the Currency.

b. the U.S. Treasury.

c. the Federal Reserve.

d. the U.S. Bank.

答案：CBABCC