1) Fiscal and monetary policy are conducted by _____ people to attain ______ goa

Question

1) Fiscal and monetary policy are conducted by _____ people to attain ______ goals.

A) the same; the same

B) different; different

C) the same; different

D) different; the same

2)The Board of Governors of the Federal Reserve does each of the following, except

A) sit on the Federal Open Market Committee.

B) serve on the Board at the pleasure of the President, who can make individual governors resign at any time.

C) carry out monetary policy.

D) raise and lower reserve requirements.

3) Which statement is true?

A) The Fed can induce people to buy United States government securities, but it can't induce them to sell.

B) The Fed can induce people to sell United States government securities, but it can't induce them to buy.

C) The Fed can induce people to buy and sell United States government securities.

D) The Fed cannot induce people to buy or sell United States government securities.

4) If a person writes a check on a Tulsa bank to purchase a new Oldsmobile, he is employing money as:

A) a medium of exchange

B) a store of value

C) a measure of value

D) All of the choices are correct

5) A large denomination time deposit is

A) money in a passbook savings account.

B) an S & L share.

C) any money left on deposit in a bank for over one year.

D) any deposit of at least $100,000 left on deposit at a bank for a specified period of time.

6) The United States did not have a central bank until

A) 1900

B) 1913

C) 1929

D) 1946

E) 1973

Explanation / Answer

1)D

2)C

3)A

4)D

5)D

6)B

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