Q1. The monetary base in the U.S. least likely includes:

A)  U.S. Treasury bills.

B)  banks’ reserve deposits at the Fed.

C)  Federal Reserve notes.

Q2. Which of the following items is least likely to be included in the monetary base?

A)  Reserve deposits owned by commercial banks.

B)  Federal Reserve notes.

C)  Commercial checking deposits.

Q3. The change in the quantity of money is determined jointly by the:

A)  Fed’s required reserve ratio and the money multiplier.

B)  change in the monetary base and the Fed’s required reserve ratio.

C)  change in the monetary base and the money multiplier.

Q4. With respect to the Fed’s open market operations, which of the following statements is least accurate?

A)  The money supply is increased when the Fed sells securities to banks.

B)  The Fed uses open market operations to adjust the monetary base.

C)  When part of an increase in the money supply is held as cash, the multiplier effect is reduced.

答案和详解如下：

Q1. The monetary base in the U.S. least likely includes:

A)  U.S. Treasury bills.

B)  banks’ reserve deposits at the Fed.

C)  Federal Reserve notes.

Correct answer is A)

The monetary base consists of Federal Reserve notes, coins, and banks’ deposits with the Federal Reserve. U.S. Treasury bills are debt securities.

Q2. Which of the following items is least likely to be included in the monetary base?

A)  Reserve deposits owned by commercial banks.

B)  Federal Reserve notes.

C)  Commercial checking deposits.

Correct answer is C)

Commercial checking deposits are not included in the monetary base.

Q3. The change in the quantity of money is determined jointly by the:

A)  Fed’s required reserve ratio and the money multiplier.

B)  change in the monetary base and the Fed’s required reserve ratio.

C)  change in the monetary base and the money multiplier.

Correct answer is C)

The change in the quantity of money equals the change in the monetary base times the money multiplier.

Q4. With respect to the Fed’s open market operations, which of the following statements is least accurate?

A)  The money supply is increased when the Fed sells securities to banks.

B)  The Fed uses open market operations to adjust the monetary base.

C)  When part of an increase in the money supply is held as cash, the multiplier effect is reduced.

Correct answer is A)

The money supply is increased when the Fed buys securities from banks, because it results in an increase in bank reserves when they are paid for. Selling securities to banks decreases the money supply. Both remaining statements are correct with respect to open market operations.

谢谢