A catalog reports the price of items in U.S. dollar amounts. This function of money is known as - Correct Answer unit of account
One reason money may not cease to work as a medium of exchange is - Correct Answer it is not accepted for use during hyperinflation
Paper money in circulation i...
Econ 211 Exam 3 UNL |100% Accurate |
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A catalog reports the price of items in U.S. dollar amounts. This function of money is
known as - Correct Answer unit of account
One reason money may not cease to work as a medium of exchange is - Correct
Answer it is not accepted for use during hyperinflation
Paper money in circulation is - Correct Answer a debt of the federal reserve banks
Credit cards are considered to be - Correct Answer not part of the money supply
Use the following to answer the next question: Refer to the table. The size of the M2
money supply is - Correct Answer $7,550 billion (Checkable deposits+currency held by
public+market deposit accounts+small time deposits+money market mutual funds
The federal backing for the money in the United States primarily comes from - Correct
Answer controlling the supply of money to keep the value of money relatively stable
over time
A decrease in the general price level - Correct Answer increase the purchasing power
of money, fewer dollars are needed to purchase goods and services
If the price index rises from 100 to 150, the value of the dollar will - Correct Answer fall
by 33 percent (dollar value= 1/price index, ex: 1/1.5)
The privately owned and publicly controlled central bank whose primary function is
controlling the money supply and interest rates to promote general economic welfare is
known as - Correct Answer The Federal Reserve (12)
Which of the following is one of the 12 Federal Reserve Bank? - Correct Answer San
Francisco (boston, nyc, philadelphia, cleveland, richmond, atlanta, chicago, st. louis,
minneapolis, kansas city, dallas, and san francisco)
The Federal Open Market Committee (FOMC) aids the Board of Governors in - Correct
Answer conducting monetary policy
Which of one of the following is one of the functions of the Fed? - Correct Answer
Serving as a lender of last resort to financial institutions
One of the contributing factors to the financial crisis of 2007 and 2008 was - Correct
Answer underestimating the risk of losses on mortgage-backed securities
Which one of the following would be a recent development for money and banking? -
Correct Answer More consolidation among banks and thrifts
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