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- 1. Open EndedMoney functions as:
- 2. Open EndedIf you place a part of your summer earnings in a savings account, you are using money primarily as a:
- 3. Open EndedA $70 price tag on a sweater in a department store window is an example of money functioning as a:
- 4. Open EndedPurchasing common stock by writing a check best exemplifies money serving as a:
- 5. Open EndedWhen economists say that money serves as a unit of account, they mean that it is:
- 6. Open EndedWhen economists say that money serves as a store of value, they mean that it is:
- 7. Open EndedIn the United States, the money supply (M1) includes:
- 8. Open EndedCurrency held in the vault of First National Bank is:
- 9. Open EndedMoney market deposit accounts are included in:
- 10. Open EndedCheckable deposits are:
- 11. Open EndedAssuming no other changes, if checkable deposits increase by $40 billion and currency in circulation decreases by $40 billion, the:
- 12. Open EndedAssuming no other changes, if checkable deposits decrease by $40 billion and balances in money market mutual funds increase by $40 billion, the:
- 13. Open EndedThe money supply is backed:
- 14. Open EndedIf the price index rises from 200 to 250, the purchasing power value of the dollar:
- 15. Open EndedThe central authority of the U.S. banking system is the:
- 16. Open EndedIn the U.S. economy, the money supply is controlled by the:
- 17. Open EndedThe Federal Open Market Committee (FOMC) is made up of:
- 18. Open EndedWhich one of the following is true about the U.S. Federal Reserve System?
- 19. Open EndedThe Board of Governors of the Federal Reserve has ____ members.
- 20. Open EndedThe members of the Federal Reserve Board:
- 21. Open EndedTo say that the Federal Reserve Banks are quasi-public banks means that:
- 22. Open EndedWhich of the following is the basic economic policy function of the Federal Reserve Banks?
- 23. Open EndedWhen banks bundled mortgage loans and sold the resulting mortgage-backed securities:
- 24. Open EndedBanks lost money during the mortgage default crisis because:
- 25. Open EndedIn the financial industry, "securitization" refers to:
- 26. Open EndedThe Federal Deposit Insurance Corporation (FDIC) insures deposits up to $250,000 in:
- 27. Open EndedJoe deposits $200 in currency into his checking account at a bank. This deposit is treated as:
- 28. Open EndedMichelle transfers $4,000 from her savings account to her checking account. What effect is this change likely to have on M1 and M2?
- 29. Open EndedWhich group aids the Board of Governors of the Federal Reserve System in conducting monetary policy?
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