5学原理》宏观第五版测试题库2.docx

5学原理》宏观第五版测试题库2.docx

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5学原理》宏观第五版测试题库2

Chapter29

TheMonetarySystem

TRUE/FALSE

1.Inaneconomythatreliesonbarter,traderequiresadouble-coincidenceofwants.

ANS:

TDIF:

1REF:

29-0

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Barter

MSC:

Definitional

2.Joewantstotradeeggsforsausage.Lashondawantstotradesausageforeggs.JoeandLashondahaveadouble-coincidenceofwants.

ANS:

TDIF:

1REF:

29-0

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Barter

MSC:

Definitional

3.Theuseofmoneyallowstradetoberoundabout.

ANS:

TDIF:

1REF:

29-0

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Money|Trade

MSC:

Definitional

4.Roundabouttradeisbeneficialforaneconomy.

ANS:

TDIF:

1REF:

29-0

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Money|Trade

MSC:

Definitional

5.Moneyallowspeopletospecializeinwhattheydobest,therebyraisingeveryone’sstandardofliving.

ANS:

TDIF:

2REF:

29-0

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Money

MSC:

Interpretive

6.Whenmoneyfunctionsasaunitofaccount,thenitcannotbecommoditymoney.

ANS:

FDIF:

2REF:

29-1

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Money

MSC:

Interpretive

7.Demanddepositsarebalancesinbankaccountsthatdepositorscanaccessbywritingacheck.

ANS:

TDIF:

1REF:

29-1

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Demanddeposits

MSC:

Definitional

8.Accordingtoeconomists,acollectionofvaluablejewelsisnotmoney.

ANS:

TDIF:

2REF:

29-1

NAT:

AnalyticLOC:

TheStudyofeconomics,andthedefinitionsofeconomics

TOP:

MoneyMSC:

Interpretive

9.Adebitcardismoresimilartoacreditcardthantoacheck.

ANS:

FDIF:

2REF:

29-1

NAT:

AnalyticLOC:

TheStudyofeconomics,andthedefinitionsofeconomics

TOP:

MoneyMSC:

Interpretive

10.Gary'swealthis$1million.EconomistswouldsaythatGaryhas$1millionworthofmoney.

ANS:

FDIF:

1REF:

29-1

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Money

MSC:

Definitional

11.Marcputspricesonsurfboardsandskateboardsathissportinggoodsstore.Heisusingmoneyasaunitofaccount.

ANS:

TDIF:

1REF:

29-1

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Money

MSC:

Definitional

12.Sandraroutinelyusescurrencytopurchasehergroceries.Sheisusingmoneyasaunitofaccount.

ANS:

FDIF:

1REF:

29-1

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Money

MSC:

Definitional

13.Bottlesofveryfinewinearelessliquidthandemanddeposits.

ANS:

TDIF:

1REF:

29-1

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Liquidity

MSC:

Interpretive

14.U.S.dollarsareanexampleofcommoditymoneyandhidesusedtomaketradesareanexampleoffiatmoney.

ANS:

FDIF:

1REF:

29-1

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Commoditymoney

MSC:

Definitional

15.WhentheSovietUnionbeganbreakingupinthelate1980s,cigarettesbeganreplacingtherubleasthemediumofexchangeeventhoughtherublewaslegaltender.Thecigarettesprovideanexampleoffiatmoney.

ANS:

FDIF:

1REF:

29-1

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Commoditymoney

MSC:

Interpretive

16.Inorderforcurrencytobewidelyusedasamediumofexchange,itissufficientforthegovernmenttodesignateitaslegaltender.

ANS:

FDIF:

1REF:

29-1

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Currency

MSC:

Definitional

17.M1includessavingsdeposits.

ANS:

FDIF:

1REF:

29-1

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Moneysupply

MSC:

Definitional

18.M2isbothlargerandmoreliquidthanM1.

ANS:

FDIF:

1REF:

29-1

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Moneysupply|Liquidity

MSC:

Interpretive

19.Creditcardsareamediumofexchange.

ANS:

FDIF:

2REF:

29-1

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Mediumofexchange

MSC:

Definitional

20.Theseriesofbankfailuresin1907occurreddespitethecreationoftheFederalReservemanyyearsearlier.

ANS:

FDIF:

1REF:

29-2

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

FederalReserveSystem

MSC:

Interpretive

21.FederalReservegovernorsaregivenlongtermstoinsulatethemfrompolitics.

ANS:

TDIF:

2REF:

29-2

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

FederalReserveSystem

MSC:

Interpretive

22.TheFederalReserveisaprivatelyoperatedcommercialbank.

ANS:

FDIF:

1REF:

29-2

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

FederalReserveSystem

MSC:

Definitional

23.TheFederalReservewascreatedin1913afteraseriesofbankfailuresin1907.

ANS:

TDIF:

1REF:

29-2

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

FederalReserveSystem

MSC:

Definitional

24.MembersoftheBoardofGovernorsareappointedbythepresidentoftheU.S.andconfirmedbytheU.S.Senate.

ANS:

TDIF:

1REF:

29-2

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

FederalReserveSystem

MSC:

Definitional

25.MonetarypolicyisdeterminedbyacommitteewhosevotingmembersincludeallthepresidentsoftheregionalFederalReserveBanks.

ANS:

FDIF:

1REF:

29-2

NAT:

AnalyticLOC:

Monetaryandfiscalpolicy

TOP:

FederalOpenMarketCommitteeMSC:

Definitional

26.TheFederalReserveprimarilyusesopen-marketoperationstochangethemoneysupply.

ANS:

TDIF:

1REF:

29-3

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

Open-marketoperations

MSC:

Definitional

27.IftheFedbuysbondsintheopenmarket,themoneysupplydecreases.

ANS:

FDIF:

1REF:

29-3

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

Open-marketoperations

MSC:

Applicative

28.Bankscannotinfluencethemoneysupplyiftheyholdalldepositsinreserve.

ANS:

TDIF:

2REF:

29-3

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

Banks|Moneysupply

MSC:

Interpretive

29.Banksstillcouldcontributetochangesinthemoneysupply,eveniftheywererequiredtoholdalldepositsinreserve.

ANS:

FDIF:

1REF:

29-3

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

Fractional-reservebanking

MSC:

Applicative

30.Ifbanksholdanyamountoftheirdepositsinreserve,thentheydonothavetheabilitytoinfluencethemoneysupply.

ANS:

FDIF:

2REF:

29-3

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Reserves|Moneysupply

MSC:

Interpretive

31.WhentheFederalReservedecreasesthediscountrate,thequantityofreservesincreasesandthemoneysupplyincreases.

ANS:

TDIF:

2REF:

29-3

NAT:

AnalyticLOC:

Monetaryandfiscalpolicy

TOP:

Discountrate|Reserves|MoneysupplyMSC:

Interpretive

32.Themoneymultiplierequals1/（1-R）,whereRrepresentsthereserveratio.

ANS:

FDIF:

1REF:

29-3

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

Moneymultiplier

MSC:

Definitional

33.Assumethatwhen$100ofnewreservesenterthebankingsystem,themoneysupplyultimatelyincreasesby$625.Assumealsothatnobanksholdexcessreservesandthattheentiremoneysupplyconsistsofbankdeposits.If,atapointintime,reservesforallbanksamountto$500,thenatthatsamepointintime,loansforallbanksamountto$2,625.

ANS:

TDIF:

3REF:

29-3

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

Moneymultiplier

MSC:

Analytical

34.Assumethatwhen$100ofnewreservesenterthebankingsystem,themoneysupplyultimatelyincreasesby$800.Assumealsothatnobanksholdexcessreservesandthattheentiremoneysupplyconsistsofbankdeposits.If,atapointintime,reservesforallbanksamountto$750,thenatthatsamepointintime,loansforallbanksamountto$6,000.

ANS:

FDIF:

3REF:

29-3

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

Moneymultiplier

MSC:

Analytical

35.Asbankscreatemoney,theycreatewealth.

ANS:

FDIF:

1REF:

29-3

NAT:

AnalyticLOC:

TheroleofmoneyTOP:

Banks|Money

MSC:

Definitional

36.ThemoneysupplyofHoobais$10,000ina100-percent-reservebankingsystem.IfHoobadecreasesthereserverequirementto10percent,themoneysupplycouldincreasebynomorethan$9,000.

ANS:

FDIF:

2REF:

29-3

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

Moneymultiplier

MSC:

Applicative

37.IftheFeddecreasesreserverequirements,themoneysupplywillincrease.

ANS:

TDIF:

1REF:

29-3

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

Reserverequirements

MSC:

Applicative

38.Anincreaseinreserverequirementsincreasesreservesanddecreasesthemoneysupply.

ANS:

FDIF:

2REF:

29-3

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

Reserverequirements

MSC:

Applicative

39.JustaftertheterroristattackonSeptember11,2001,theFedstoodreadytolendfinancialinstitutionsfunds.WhentheFeddidthis,itwasactinginitsroleoflenderoflastresort.

ANS:

TDIF:

1REF:

29-3

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

Lenderoflastresort

MSC:

Definitional

40.Becauseofthemultipletoolsatitsdisposal,theFedcancontrolthemoneysupplyveryprecisely.

ANS:

FDIF:

2REF:

29-3

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

FederalReserveSystem

MSC:

Interpretive

41.InthemonthsofNovemberandDecember,peopleintheUnitedStatesholdalargerpartoftheirmoneyintheformofcurrencybecausetheyintendtoshopandtravelfortheholidays.Asaresult,otherthingsthesamethemoneysupplyincreases.

ANS:

FDIF:

2REF:

29-3

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

Currency|Moneymultiplier

MSC:

Applicative

42.Otherthingsthesame,ifbanksdecidetoholdasmallerpartoftheirdepositsasexcessreserves,themoneysupplywillfall.

ANS:

FDIF:

2REF:

29-3

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

Reserves

MSC:

Applicative

43.BankrunsandtheaccompanyingincreaseinthemoneymultipliercausedtheU.S.moneysupplytoriseby28percentfrom1929to1933.

ANS:

FDIF:

2REF:

29-3

NAT:

AnalyticLOC:

MonetaryandfiscalpolicyTOP:

Banks|Moneymultiplier

MSC:

Definitional

SHORTANSWER

1.Economistsarguethatthemovefrombartertomoneyincreasedtradeandproduction.Howisthispossible?

ANS:

Theuseofmoneyallowspeopletotrademor