宏观经济第29章货币制度题目答案详解

1、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 accountB.a store of valueC.medium of exchangeD.None of the above is correct.2. Which of the following is not included in either M1 or M2?A.U.S. Treasury billsB.small time deposi

2、tsC.demand depositsD.money market mutual funds3. Credit cardsA.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 depositsB.demand depositsC.small time depositsD.money market mutua

3、l funds5. The legal tender requirement means thatA.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

4、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（travelers 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（

5、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

6、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 Governorsb.the New York Federal Reserve

7、 Bankc.the Federal Open Market Committeed.the Open Market Committees of the regional Federal Reserve Banks2. Decisions by policymakers concerning the money supply constitutea.monetary policy.b.fiscal policy.c.banking policy.d.operations policy.3. Over one time horizon or another, Fed policy decision

8、s influencea.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.

9、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 Reservea.creates dollars and uses them to purchase

10、government bonds from the public.b.sells government bonds from its portfolio to the public.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 w

11、hich 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

12、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 $5

13、00 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 banka.must increase its required reserves by $25.b.will initially see its total reserves increase by $5

14、00.c.will be able to make a new loan of $475.d.All of the above are true.3. When a bank loans out $100, the money supply a.does not change.b.increases.c.decreases.d.may do any of the above.4. An open market salea.increases the money supply.b.doesnt change the money supply.c.decreases the money suppl

15、y.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

16、.5 percent, then $5,600 of money can be generated byA.$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, banksa. hold more reserves than deposits.b. generally lend out a majority of the funds deposited.c. cause the m

17、oney supply to fall by lending out reserves.d. All of the above are correct.8. When a bank loans out $1,000, the money supplya.does not change.b.decreases.c.increases.d.may do any of the above.9. If the reserve ratio for all banks is 12.5 percent, then $2,000 of additional reserves can create up toa

18、.$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 marketa.purchases or lower the discount rate.b.sales or lower the disc

19、ount rate.c.purchases or raise the discount rate.d.sales or raise the discount rate.2. Which of the following is not a tool of monetary policy?a.open market operationsb.reserve requirementsc.changing the discount rated.increasing the government budget deficit3. The discount rate is the interest rate

20、 thata.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 banks liabilities includea.both its reserves and the deposits of its customers.b.neither its reserves nor the deposits of its customers.c.its reserve

21、s, 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 bya.$150.b.$850.c.$6,667.d.$15,000. 2. If reserve requirements are increased, the reserve rati

22、o 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 reservesa.increase and banks can increase lending.b.increase and banks must decrease lending.c.decrease and banks can incr