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CLEP Macroeconomics: Money And Banking
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CLEP Macroeconomics: Money And Banking
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25 Questions

1. Expansionary monetary policy is used during a period of _________

2. Increase interest rates to decrease the money supply

3. The amount received by a lender and paid by a borrower expressed as a percentage of the amount of a loan

4. The multiple by which the banking system can expand the money supply for each dollar of excess reserves

5. Four categories of money

6. Quantity of money demanded and interest rate are ________ related

7. (1) medium of exchange; (2) store of value; (3) unit of account

8. Shift of money demanded curve

9. The money that a bank has in reserve which exceeds the reserve requirement

10. Each group is less liquid than the one before

11. The rate the Federal Reserve charges banks to borrow money

12. M2 + deposits held by other financial institutions (trust companies - credit unions)

13. Lender of last resort - supervisor of member banks - provider of check-clearing services - and controller of money supply

14. Occurs when the Fed switches the deposits between its own accounts and the accounts of the commercial banks

15. Informal discussions that occur between the commercial banks and the Fed about monetary and other policies

16. M2+ + non-personal term deposits + foreign currency deposits

17. Shows how interest rates affect investment expenditure - and ultimately real GDP - prices and unemployment

18. Movement along money demand curve

19. The Federal Reserve policies that are aimed at changing the size of the money supply and interest rates to affect the national economy

20. Increases money supply

21. If the Federal reserve lowers the reserve requirement - the interest rate will ________

22. Stems from the fact that money is a store of value and people hold their financial assets in many forms

23. Decrease interest rates to increase the money supply

24. Equilibrium force in quantity of money demanded and quantity of money supplied

25. Entity responsible for managing the money supply in accordance with the needs of the economy

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