To offset the effect of households and firms deciding to hold more of their money in checking account deposits and less in currency, the Federal Reserve could
A. raise bank taxes.
B. sell Treasury securities.
C. raise government spending.
D. lower the required reserve ratio.
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The three main monetary policy tools used by the Federal Reserve to manage the money supply are
A. interest rates, tax rates, and government spending.
B. tax rates, government purchases, and government transfer payments.
C. open market operations, discount policy, and reserve requirements.
D. open market operations, the exchange rate of the dollar against foreign currencies, and government
A bank's liabilities are
A. things owned by or owed to the bank.
B. things the bank owes to someone else.
C. a measure of the bank's net losses.
D. included as part of the bank's reserves.
If a person withdraws $500 from his/her savings account and puts it in his/her checking account, then M1 will ________ and M2 will ________.
A. increase; decrease
B. increase; not change
C. not change; decrease
D. not change; increase
Liquidity is defined as
A. the ease with which a given asset can be converted to a store of value.
B. the ease with which a given asset can be converted to a unit of account.
C. the ease with which a given asset can be converted to a medium of exchange.
D. the ease with which a given asset can be converted to a standard of deferred payment.
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