課程名稱：貨幣銀行學
課程性質：
課程範圍：ch12~ch16、ch19
開課教師：林馨怡
開課學院：經濟系
開課系級：選修
考試日期(年月日)：2008/4/24
考試時限(Mins)：2 hr
試題本文：
I. 單選題(45%) (先打單選題 剩下55%問答題之後再補充)
1. An increase in _______ leads to an equal _______ in the monetary base
in the short run.
(a) float;decrease
(b) float;increase
(c) discount loans; decrease
(d) Treasury deposits at the Fed;increase
2. The oldest central bank, having been founded in 1694, is the
(a) Bank of England
(b) Deutsche Bundesbank
(c) Bank of Japan
(d) Federal Reserve System
3. A bank has excess reserves of $1,000 and demand deposit liabilities of
$80,000 when the reserve requirement is 25 percent. If the reserve
requirement is lowered to 20 percent, the bank's excess reserves will be
(a) $1,000
(b) $5,000
(c) $8,000
(d) $9,000
4. An increase in the monetary base that goes into currency is _______, while
an increase that goes into deposits is _______.
(a) multiplied; multiplied
(b) not multiplied; multiplied
(c) multiplied; not multiplied
(d) not multiplied; not multiplied
5. In the market for reserves, an open market sale _______ the _______ of
reserves, causing the federal funds rate to increase, everything else held
constant.
(a) increase; supply
(b) increase; demand
(c) decrease; supply
(d) decrease; demand
6. There are two types of open market operations:_______ open market
operations are intended to change the level of reserves and the monetary
base, and _______ open market operations are intended to offset movements
in other factors that affect the monetary base.
(a) defensive; dynamic
(b) defensive; static
(c) dynamic; defensive
(d) dynamic; static
7. The time-inconsistency problem in monetary policy can occur when the
central bank conducts policy
(a) using a nominal anchor.
(b) using a strict and inflexible rule
(c) on a discretionary, day-by-day basis
(d) using a flexible, discretionary rule.
8. Using Taylor's rule, when the equilibrium real federal funds rate is 3%,
the positive output gap is 2%, the target inflation rate is 1%, and the
actual inflation rate is 2%, the nominal federal funds rate target should
be
(a) 5%
(b) 5.5%
(c) 6%
(d) 6.5%
9. The classical economist believed that if the quantity of money doubled,
(a) output would double
(b) prices would fall
(c) prices would double
(d) prices would remain constant
10. The Baumol-Tobin analysis suggests that an increase in the brokerage fee
for buying and selling bonds will cause the demand for money to _______
and the demand for bonds to _______.
(a) increase; increase
(b) increase; decrease
(c) decrease; increase
(d) decrease; decrease
11. Keynes's theory of the demand for money is consistent with _______
movements in _______.
(a) countercyclical; velocity
(b) procyclical; velocity
(c) countercyclical; expectations
(d) procyclical; ecpectations
12. Discount policy affects the money supply by affecting the volume of
_______ and the _______.
(a) excess reserves; monetary base
(b) borrowed reserves; monetary base
(c) excess reserves; money multiplier
(d) borrowed reserves; money multiplier
13. The political business cycle refers to the phenomenon that just before
elections, politicians enact _______ policies. After the elections, the
bad effects of these policies(for example, _______)have to be counteracted
with _______ policies.
(a) expansionary; higher unemployment
(b) expansionary; a higher inflation rate; contractionary
(c) contractionary; higher unemployment; expansionary
(d) contractionary; a higher inflation rate; expansionary
14. Assuming initially that r = 15%, c = 40%, and e = 5%, a decrease in e to
0% causes the M1 money multiplier to _______, everything else held
constant.
(a) increase from 2.33 to 2.55
(b) decrease from 2.55 to 2.33
(c) increase from 1.67 to 1.82
(d) decrease from 1.82 to 1.67
15. The money supply is _______ related to the nonborrowed monetary base, and
_______ related to the level of borrowed reserves.
(a) positively; negatively
(b) negatively; not
(c) positively; positively
(d) negatively; negatively
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