7239729
Descrição
Quiz por Natalie Balzert, atualizado more than 1 year ago
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Criado por Natalie Balzert
quase 8 anos atrás
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Questão 1
Questão
To use monetary policy to lessen the effects of a recession, the Federal Reserve would:
Responda
-
increase the money supply and increase interest rates
-
decrease the money supply and increase interest rates
-
increase the money supply and decrease interest rates
-
decrease the money supply and decrease interest rates
Questão 2
Questão
Federal Reserve Notes in the Us are:
Responda
-
commodity money
-
fiat money
-
specie money
-
regulated money
Questão 3
Questão
When the USA was founded, the official monetary system was based on:
Responda
-
gold and silver
-
silver only
-
gold only
-
gold, silver, and/or paper as determined by Congress
Questão 4
Questão
Prior to the Civil War, US banks could print paper money, the government could not.
Responda
- True
- False
Questão 5
Questão
Some countries in Central America, South America, and Africa use the US dollar their currency and no longer print their own,
Responda
- True
- False
Questão 6
Questão
It is called a [blank_start]Currency Board[blank_end] if a country issues its money backed by dollars or yen.
Responda
-
Currency Board
Questão 7
Questão
Which of the following is not one of the functions of money?
Responda
-
medium of exchange
-
insurer of commodities
-
store of value
-
unit of account
Questão 8
Questão
When David Hume said that money was the oil of trade, he meant which function of money?
Responda
-
Medium of exchange
-
Insurer of commodities
-
Store of valie
-
Unite of Account
Questão 9
Questão
An economic system without money is a [blank_start]Barter[blank_end] system.
Responda
-
Barter
Questão 10
Questão
In the book the Wonderful Wizard of Oz, the author supports:
Responda
-
bimetallism
-
the gold standard
-
fiat money
-
reserve currencies
Questão 11
Questão
Which of the following is false about the Wonderful Wizard of Oz?
Responda
-
The yellow brick road is the gold standard
-
The scarecrow represents farmers
-
Dorothy's slippers are made of silver in the original story
-
The tin woodsman represents Wall Street
Questão 12
Questão
The Wonderful Wizard of Oz is about the presidential election of 1896.
Responda
- True
- False
Questão 13
Questão
In the Wonderful Wizard of Oz the wizard is the president of the US.
Responda
- True
- False
Questão 14
Questão
In a fractional reserve banking system, banks must keep:
Responda
-
a % of their of their loans on reserve in the bank
-
a % of their deposits on reserve in the bank
-
a set dollar amount on reserve in the bank, based on their size
-
a percentage of their average daily transactions on reserve in the bank
Questão 15
Questão
The Federal Reserve was founded in 1913. It is the first central bank the US has ever had, while most of the central banks in Europe are hundreds of years old.
Responda
- True
- False
Questão 16
Questão
The Fed is divided into Districts because:
Responda
-
it is more efficient to issue currency that way due to the size of the country
-
separate districts can better adapt to local economic conditions
-
too many states wanted the Fed located there, so having 12 was a political compromise
-
Katniss Everdeen decided
Questão 17
Questão
In today's financial system, the value of our money depends only on our [blank_start]faith[blank_end] in it, according to your professor.
Responda
-
faith
Questão 18
Questão
The Fed decreases the money supply by [blank_start]selling[blank_end] bonds.
Responda
-
selling
Questão 19
Questão
The Federal Reserve is intended to be independent of the President and Congress.
Responda
- True
- False
Questão 20
Questão
When the Fed increases the money supply, interest rates should:
Responda
-
fall
-
rise
-
remain inchanged
Questão 21
Questão
The [blank_start]discount[blank_end] rate is what the Fed charges banks when they borrow from it.
Responda
-
discount
Questão 22
Questão
The [blank_start]Federal Fund[blank_end] rate is what US banks are charged for overnight loans.
Responda
-
Federal Funds
Questão 23
Questão
The [blank_start]LIBOR[blank_end] is the European version of the previous question.
Responda
-
LIBOR
Questão 24
Questão
Most of the money in the world is:
Responda
-
cash printed by the government
-
created by banks when they make loans
-
created through printing bonds
-
created by banks taking deposits
Questão 25
Questão
A credit default swap is actually an insurance policy on a financial asset.
Responda
- True
- False
Questão 26
Questão
M1 is mainly:
Responda
-
cash and coins
-
currency and checking accounts
-
currency, checking accounts, and small savings and time deposits
-
a freeway in London
Questão 27
Questão
If Bill's bank is the only bank, it can legally make a loan of $50000. That is, it's accounts will still balance legally after the loan is made.
Responda
- True
- False
Questão 28
Questão
When the interest rate rises, investment should do what?
Responda
-
rise
-
fall
-
be unchanged
Questão 29
Questão
The modern theory of economic growth is based on _____ as the key to growth.
Responda
-
savings
-
ideas and innovations
-
infrastructure investment
-
banking reform
Questão 30
Questão
The size of a country's _____ relative to its population tells us how rich it is.
Responda
-
bank reserves
-
capital stock
-
financial markets
-
exports
Questão 31
Questão
According to the United Nations, what is the biggest obstacle to economic development for poor nations in the world today?
Responda
-
too much debt
-
treatment of women
-
child labor
-
poor transportation systems
Questão 32
Questão
Despite the theories, the quantity of natural resources a country has turns out to be the most important factor to its economic growth in the real world.
Responda
- True
- False
Questão 33
Questão
When the government uses its taxing and spending powers to affect the economy, it is called:
Responda
-
monetary policy
-
congressional policy
-
financial policy
-
fiscal policy
Questão 34
Questão
Open Market operations are
Responda
-
the buying and selling of government bonds by the Federal Reserve
-
the means by which the Federal Reserve acts as the government's banker
-
the buying and selling of Federal Reserve Notes in the open market
-
the buying and selling of government bonds by the Treasury
Questão 35
Questão
When the government of Japan targeted its automobile companies as a way to make the economy grow, this was called _____ policy.
Responda
-
fiscal
-
regional
-
industrial
-
referntial
Questão 36
Questão
In the current economic crisis, a Classical economist would have done what with the failing banks and insurance companies?
Responda
-
let them go bankrupt, regardless of effect on anything else
-
let them go bankrupt, with the Fed protecting other financial institutions affected by it
-
forced another financial institution to buy them, with help from the Fed
-
exactly what the Fed did, buy billions in their stock to increase their reserves
Questão 37
Questão
Keynesians believe that the best way to end a recession is:
Responda
-
increase the money supply and lower interest rates
-
increase government spending and make tax cuts
-
raise interest rates and cut taxes
-
do nothing
Questão 38
Questão
When lowering interest rates dows not affect the economy, economists say we are in a(n):
Responda
-
functional deficit
-
liquidity trap
-
crowding out
-
transitional lag
Questão 39
Questão
Correctly measured the US national debt:
Responda
-
is larger than it has ever been
-
has increased under every president since 1900, except Clinton
-
is smaller than Japan's
-
b and c only
-
a,b, and c are all correct
Questão 40
Questão
The last US president who did not have a budget deficit was:
Responda
-
Reagan
-
Kennedy
-
Jackson
-
Clinton
Questão 41
Questão
Almost all money in the world today is _____ money
Responda
-
commodity
-
fiat
-
industrial
-
contractual
Questão 42
Questão
An economic system without money is a(n) [blank_start]Barter[blank_end] system.
Responda
-
Barter
Questão 43
Questão
The central bank increases the money supply by [blank_start]buying[blank_end] bonds.
Responda
-
buying
Questão 44
Questão
The Fed is divided into 12 districts which are supposed to:
Responda
-
simplify the Fed's accounting
-
each contain 1/12 of the population, creating a monetary "congress"
-
represent the unique economic interests of different parts of the country
-
all members of congress to appoint those who their local economy
Questão 45
Questão
Most of the money is the world is:
Responda
-
cash printed by the government
-
created by banks when they make loans
-
created through printing bonds
-
created by banks taking deposits
Questão 46
Questão
The entity intended to be the central bank for the world is the:
Responda
-
ECB
-
IMF
-
World Bank
-
Wynn Resorts
Questão 47
Questão
When the entity in the previous question make a loan to a country, it requires a(n) _____ program in exchange
Responda
-
re-invigoration
-
austerity
-
spending
Questão 48
Questão
The changes made to US currency have been made to:
Responda
-
lengthen the time the money is used in circulation
-
prevent couterfeiting
-
lower the costs of printing
-
b and c
Questão 49
Questão
M2 consists of the [blank_start]sum of M1[blank_end], [blank_start]saving accounts[blank_end], and [blank_start]small time deposits[blank_end].
Responda
-
sum of M1
-
savings account
-
small time deposits
Questão 50
Questão
The [blank_start]Glass-Steagal[blank_end] Act separated banking and stock brokers. It has since been repealed.
Responda
-
Glass-Steagal
Questão 51
Questão
Congress in 1999 passed a law which prohibited the government from creating rules that regulated mortgage backed securities.
Responda
- True
- False
Questão 52
Questão
When lowering interest rates does not affect the economy, economists say that we are in a(n) [blank_start]liquidity trap[blank_end].
Responda
-
liquidity trap
Questão 53
Questão
It is called [blank_start]crowding out[blank_end] when the government's borrowing to pay for something like the stimulus package makes interest rates go up, and lessons private borrowing.
Responda
-
crowding out
Questão 54
Questão
Data tell us that changing taxes has the strongest effect on the economy when times are good, and less effect as times go bad.
Responda
- True
- False
Questão 55
Questão
Banks in the US in the 1800s were generally allowed to print their own money.
Responda
- True
- False
Questão 56
Questão
The approval that a bank must have to be allowed to operate is called a(n) [blank_start]charter[blank_end].
Responda
-
charter
Questão 57
Questão
Bill's Bank has $5,000 in cash, $10,000 in loans, and $40,000 in deposits. Its actual reserves are:
Responda
-
$10,000
-
$4,000
-
$40,000
-
$5,000
Questão 58
Questão
Bill's Bank has $5,000 in cash, $10,000 in loans, and $40,000 in deposits. It requires reserves, assuming 10% reserve requirement, are:
Responda
-
$4,000
-
$1,000
-
$10,000
Questão 59
Questão
Bill's Bank has $5,000 in cash, $10,000 in loans, and $40,000 in deposits. Its excess reserves, assuming 10% reserve requirement, are:
Responda
-
$0
-
$2,000
-
$1,000
Questão 60
Questão
Bill's Bank has $5,000 in cash, $10,000 in loans, and $40,000 in deposits. It can make a $5,000 loan and remain legal, assuming a 10% reserve requirement.
Responda
- True
- False
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