The Economics of Money Banking and Financial Markets 10E - Mishkin - TB chapter 15

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1、EconomicsofMoney,Banking,andFin.Markets,10e(Mishkin)Chapter15ToolsofMonetaryPolicy15.1TheMarketforReservesandtheFederalFundsRate1)TheinterestratechargedonovernightloansofreservesbetweenbanksistheA)primerate.B)discountrate.C)federalfundsrate.D)Treasurybillrate.Answer:CQuesStatus:Previou

2、sEditionAACSB:Reflectivethinkingskills2)TheprimaryindicatoroftheFed'sstanceonmonetarypolicyisA)thediscountrate.B)thefederalfundsrate.C)thegrowthrateofthemonetarybase.D)thegrowthrateofM2.Answer:BQuesStatus:PreviousEditionAACSB:Reflectivethinkingskills3)Thequantityofreservesdemandedequal

3、sA)requiredreservesplusborrowedreserves.B)excessreservesplusborrowedreserves.C)requiredreservesplusexcessreserves.D)totalreservesminusexcessreserves.Answer:CQuesStatus:PreviousEditionAACSB:Reflectivethinkingskills4)Everythingelseheldconstant,whenthefederalfundsrateis________theinterest

4、ratepaidonreserves,thequantityofreservesdemandedriseswhenthefederalfundsrate________.A)above,risesB)above,fallsC)below,risesD)below,fallsAnswer:BQuesStatus:PreviousEditionAACSB:Analyticskills29Copyright©2013PearsonEducation,Inc.5)Theopportunitycostofholdingexcessreservesisthefederalfun

5、dsrateA)minusthediscountrate.B)plusthediscountrate.C)plustheinterestratepaidonexcessreserves.D)minustheinterestratepaidonexcessreserves.Answer:DQuesStatus:PreviousEditionAACSB:Analyticskills6)Inthemarketforreserves,whenthefederalfundsrateisabovetheinterestratepaidonexcessreserves,thede

6、mandcurveforreservesisA)vertical.B)horizontal.C)positivelysloped.D)negativelysloped.Answer:DQuesStatus:PreviousEditionAACSB:Analyticskills7)WhenthefederalfundsrateequalstheinterestratepaidonexcessreservesA)thesupplycurveofreservesisvertical.B)thesupplycurveofreservesishorizontal.C)thed

7、emandcurveforreservesisvertical.D)thedemandcurveforreservesishorizontal.Answer:DQuesStatus:PreviousEditionAACSB:Analyticskills8)WhichofthefollowingisNOTanargumentfortheFederalReservepayinginterestonexcessreserveholdings?A)Payinginterestreducestheeffectivetaxondeposits.B)Payinginteres