答案和详解如下： 1.With respect to the Fed’s open market operations, which of the following statements is least accurate? A) The Fed uses open market operations to adjust the monetary base. B) The adjustment to the money supply is accomplished by changing the level of bank reserves. C) When part of an increase in the money supply is held as cash, the multiplier effect is reduced. D) The money supply is increased when the Fed sells securities to banks. The correct answer was D) 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. All of the other statements are correct with respect to open market operations. 2.The change in the quantity of money is determined jointly by the: A) change in the monetary base and the Fed’s required reserve ratio. B) Fed’s required reserve ratio and the money multiplier. C) change in the monetary base and the money multiplier. D) money multiplier and the change in M1. The correct answer was C) The change in the quantity of money equals the change in the monetary base times the money multiplier. 3.Which of the following items is least likely to be included in the monetary base? A) Commercial checking deposits. B) Federal Reserve notes. C) Coins issued by the Treasury. D) Reserve deposits owned by commercial banks. The correct answer was A) Commercial checking deposits are not included in the monetary base. | 
发表于 2008-5-15 12:24
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