The chairperson of the Board of Governors serves ________ years as the main spokesperson for monetary policy in the United States.
A. 4
B. 7
C. 12
D. 14
Answer: A
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Banks acquire the funds that they use to purchase income-earning assets from such sources as
A) cash items in the process of collection. B) savings accounts. C) reserves. D) deposits at other banks.
Suppose the development of the European Union leads to greater investment in Europe. You'd expect
A) a recession in Europe. B) a decline in the world real interest rate. C) a rise in the current account in Europe. D) an increase in the world real interest rate.
An unexpected fall in the Producer Price Index should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
Prior to October 2008, commercial banks tended to hold relatively small amounts of excess reserves because
A. the presence of such reserves tends to boost interest rates and reduce investment. B. the Fed constantly uses open market operations to eliminate excess reserves. C. the Fed did not pay interest on reserves. D. the Fed does not want commercial banks to be too liquid.