Chapter 18 试题.doc

Economics of Money, Banking, and Fin. Mkts., 2e (B.S. Ed.) (Mishkin) Chapter 18?? Tools for Monetary Policy ? 18.1?? The Market for Reserve and the Federal Funds Rate ? 1) The Fed uses three policy tools to manipulate the money supply: ________, which affect reserves and the monetary base; changes in ________, which affect the monetary base; and changes in ________, which affect the money multiplier. A) open market operations; borrowed reserves; margin requirements B) open market operations; borrowed reserves; reserve requirements C) borrowed reserves; open market operations; margin requirements D) borrowed reserves; open market operations; reserve requirements Answer:? B Ques Status:? Previous Edition ? 2) The Fed uses three policy tools to manipulate the money supply: open market operations, which affect the ________; changes in borrowed reserves, which affect the ________; and changes in reserve requirements, which affect the ________. A) money multiplier; monetary base; monetary base B) monetary base; money multiplier; monetary base C) monetary base; monetary base; money multiplier D) money multiplier; money multiplier; monetary base Answer:? C Ques Status:? Previous Edition ? 3) The interest rate charged on overnight loans of reserves between banks is the A) prime rate. B) discount rate. C) federal funds rate. D) Treasury bill rate. Answer:? C Ques Status:? Previous Edition ? 4) The primary indicator of the Fed's stance on monetary policy is A) the discount rate. B) the federal funds rate. C) the growth rate of the monetary base. D) the growth rate of M2. Answer:? B Ques Status:? Previous Edition ? 5) The quantity of reserves demanded equals A) required reserves plus borrowed reserves. B) excess reserves plus borrowed reserves. C) required reserves plus excess reserves. D) total reserves minus excess reserves. Answer:? C Ques Status:? Previous Edition 6) Everything else held constant, when the federal funds rate is ________ the interest rate pai