51) The monetary base is the sum of
A) Federal Reserve notes and banks' reserves at the Fed.
B) coins, Federal Reserve notes, and individuals' deposits at the Fed.
C) Federal Reserve notes, Treasury deposits at the Fed, banks' reserves at the Fed, and coins.
D) coins, Federal Reserve notes, and banks' reserves at the Fed.
E) coins, Federal Reserve notes, and gold at the Fed.
52) The monetary base is equal to
A) banks' assets plus liabilities.
B) Federal Reserve notes plus coins plus banks' reserves at the Fed.
C) checkable deposits plus coins plus traveler's checks.
D) checkable deposits plus coins plus banks' assets.
E) M2 minus M1.
53) The monetary base is equal to
A) M1.
B) M2.
C) currency and coins in circulation plus checkable deposits.
D) the sum of coins, Federal Reserve notes, and banks' reserves at the Fed.
E) the sum of coins, Federal Reserve notes, and gold at the Fed.
54) The monetary base is equal to the sum of coins,
A) currency and banks' reserves at the Federal Reserve.
B) currency and checkable deposits at banks.
C) currency, banks' reserves at the Federal Reserve and checkable deposits at banks.
D) and checkable deposits at banks.
E) U.S. government securities owned by the Federal Reserve and Federal Reserve notes.
55) The monetary base does NOT include which of the following items?
i.Federal Reserve notes
ii.banks' reserves at the Federal Reserve
iii.U.S. government securities owned by the Federal Reserve
A) i only
B) ii only
C) iii only
D) both i and ii
E) both ii and iii
56) Regulating the amount of money in the United States is one of the most important responsibilities of the
A) State Department.
B) state governments.
C) Treasury Department.
D) Federal Reserve.
E) U.S. Mint.
57) The Board of Governors of the Federal Reserve System has
A) 12 members appointed by the president of the United States.
B) 12 members elected by the public.
C) seven members appointed by the president of the United States.
D) seven members elected by the public.
E) seven members appointed to life terms.
58) The Board of Governors of the Federal Reserve System has seven members appointed by the ________ that serve a term of ________ in order to ________.
A) U.S. congress; 4 years; fulfill a mandate within the U.S. constitution
B) U.S. senate; 14 years; provide continuity in the governing of the U.S. economy
C) U.S. president and confirmed by the U.S. senate; 14 years; provide continuity in the governing of the U.S. economy
D) U.S. president and confirmed by the U.S. congress; 14 years; provide continuity in the governing of the U.S. economy
E) U.S. president and confirmed by the U.S. senate; 4 years; fulfill a mandate within the U.S. constitution
59) The Fed's policy is determined by the
A) Federal Open Market Committee.
B) Executive Council to the Governor.
C) Regional Federal Reserve Banks.
D) Board of Governors.
E) Federal Monetary Policy Committee.
60) The Fed's policy tools include
A) required reserve ratios, the discount rate, open market operations, and extraordinary crisis measures.
B) holding deposits for the U.S. government, reserve requirements, and the discount rate.
C) setting regulations for lending standards and extraordinary crisis measures.
D) supervision of the banking system and buying and selling commercial banks.
E) required reserve ratios, income tax rates, and open market operations.
