81.InDecember1999peoplefearedthattheremightbecomputerproblemsatbanksasthecenturychanged.Consequently,peoplewantedtoholdrelativelymoreincurrencyandrelativelylessindeposits.Inanticipationbanksraisedtheirreserveratiostohaveenoughcashonhandtomeetdepositors'demands.Theseactionsbythepublic

a.wouldincreasethemultiplier.IftheFedwantedtooffsettheeffectofthisonthesizeofthemoneysupply,itcouldhavesoldbonds.

b.wouldincreasethemultiplier.IftheFedwantedtooffsettheeffectofthisonthesizeofthemoneysupply,itcouldhaveboughtbonds.

c.wouldreducethemultiplier.IftheFedwantedtooffsettheeffectofthisonthesizeofthemoneysupply,itcouldhavesoldbonds.

d.wouldreducethemultiplier.IftheFedwantedtooffsettheeffectofthisonthesizeofthemoneysupply,itcouldhaveboughtbonds.

82.Inthe19thcentury,whencropfailuresoftenledtobankruns,bankswouldmakerelativelyfewerloansandholdrelativelymoreexcessreserves.Byitself,theseactionsbythebanksshouldhave

a.increasedthemoneymultiplierandthemoneysupply.

b.decreasedthemoneymultiplierandincreasedthemoneysupply.

c.increasedthemoneymultiplieranddecreasedthemoneysupply.

d.decreasedboththemoneymultiplierandthemoneysupply.

83.Themoneysupplydecreasesif

a.householdsdecidetoholdrelativelymorecurrencyandrelativelyfewerdepositsandbanksdecidetoholdrelativelymoreexcessreservesandmakefewerloans.

b.householdsdecidetoholdrelativelymorecurrencyandrelativelyfewerdepositsandbanksdecidetoholdrelativelyfewerexcessreservesandmakemoreloans.

c.householdsdecidetoholdrelativelylesscurrencyandrelativelymoredepositsandbanksdecidetoholdrelativelymoreexcessreservesandmakefewerloans.

d.householdsdecidetoholdrelativelylesscurrencyandrelativelymoredepositsandbanksdecidetoholdrelativelylessexcessreservesandmakemoreloans.

84.AproblemthattheFedfaceswhenitattemptstocontrolthemoneysupplyisthat

a.the100-percent-reservebankingsystemintheU.S.makesitdifficultfortheFedtocarryoutitsmonetarypolicy.

b.theFedhastogettheapprovaloftheU.S.TreasuryDepartmentwheneveritusesanyofitsmonetarypolicytools.

c.theFeddoesnothaveatoolthatitcanusetochangethemoneysupplybyeitherasmallamountoralargeamount.

d.theFeddoesnotcontroltheamountofmoneythathouseholdschoosetoholdasdepositsinbanks.

85.AproblemthattheFedfaceswhenitattemptstocontrolthemoneysupplyisthat

a.sincetheU.S.hasafractional-reservebankingsystem,theamountofmoneyintheeconomydependsinpartonthebehaviorofdepositorsandbankers.

b.theFedhastogettheapprovaloftheU.S.TreasuryDepartmentwheneveritusesanyofitsmonetarypolicytools.

c.whiletheFedhastheabilitytochangethemoneysupplybyalargeamount,itdoesnothavetheabilitytochangeitbyasmallamount.

d.federallegislationinthe1950sstrippedtheFedofitspowertoactasalenderoflastresorttobanks.

86.Whichofthefollowingiscorrect?

a.TheFedcancontrolthemoneysupplyprecisely.

b.Theamountofmoneyintheeconomydoesnotdependonthebehaviorofdepositors.

c.Theamountofmoneyintheeconomydependsinpartonthebehaviorofbanks.

d.Noneoftheaboveiscorrect.

87.TheFed’scontrolofthemoneysupplyisnotprecisebecause

a.Congresscanalsomakechangestothemoneysupply.

b.therearenotalwaysgovernmentbondsavailableforpurchasewhentheFedwantstoperformopen-marketoperations.

c.theFeddoesnotknowwhereallU.S.currencyislocated.

d.theamountofmoneyintheeconomydependsinpartonthebehaviorofdepositorsandbankers.

Table29-9

MetropolisNationalBankiscurrentlyholding2%ofitsdepositsasexcessreserves.

Metropolis National Bank

Assets

Liabilities

Reserves

$60,000

Deposits

$500,000

Loans

$440,000

88.RefertoTable29-9.MetropolisNationalBankiscurrentlyholding2%ofdepositsasexcessreserves.Whatisthereserverequirement?

a.12percent

b.10percent

c.8percent

d.6percent

89.RefertoTable29-9.MetropolisNationalBankiscurrentlyholding2%ofdepositsasexcessreserves.Assumingthatallbankshavethesamerequiredreserveratio,andthennonewanttoholdexcessreserveswhatisthevalueofthemoneymultiplier?

a.8.25

b.10

c.12

d.20

90.RefertoTable29-9.MetropolisNationalBankiscurrentlyholding2%ofdepositsasexcessreserves.Assumethatnobanksintheeconomywanttoholdexcessreservesandthatpeopleonlyholddepositsandnocurrency.HowmuchdoesthemoneysupplyultimatelyincreasewhenMetropolisNationalBanklendsoutitsexcessreserves?

a.$100,000

b.$110,000

c.$120,000

d.Noneoftheabovearecorrect.

111.Justice theories primarily focus on:  

A. minimizing the amount of political liberty permitted to each person.

B. the attainment of fair and equitable distribution of economic goods and services.

C. the attainment of maximum business profits.

D. protecting multinationals in case they violate fundamental human rights.

E. minimizing the amount of economic freedom permitted to each person.

112.According to _____, all economic goods and services should be distributed equally except when an unequal distribution would work to everyone's advantage.  

A. John Rawls

B. Leon Sullivan

C. Garrett Hardin

D. Milton Friedman

E. Carol Gilligan

113.The veil of ignorance, a conceptual device designed by John Rawls, supports:  

A. impartiality in justice.

B. oppression of people by totalitarian governments.

C. economic suppression of people.

D. apartheid laws.

E. cultural relativism.

114.According to the concept of _____, developed by John Rawls, everyone is imagined to be oblivious to all of his or her particular characteristics, such as, race, sex, intelligence, nationality, family background, and special talents.  

A. tragedy of the commons

B. naive immoralism

C. Universal Declaration of Human Rights

D. veil of ignorance

E. difference principle

115.Under John Rawls' concept of veil of ignorance, people are imagined to be ignorant of their:  

A. fundamental duties.

B. fundamental rights.

C. particular characteristics such as race, sex, and nationality.

D. political and economic freedom.

E. social responsibilities.

116.According to Rawls, which of the following principles would be unanimously accepted by people under the veil of ignorance?  

A. People should be discriminated on the basis of cast and class.

B. Inequalities in income and wealth distribution should not be justified under any condition.

C. The political and economic freedom of people should be highly restricted in order to promote collective goals.

D. Each person should be permitted the maximum amount of basic liberty that is compatible with a similar liberty for others.

E. All the properties should be owned by the government and people should not have the freedom or right to hold personal property.

117.Which of the following terms, developed Rawls, indicates that inequalities are justified if they benefit the position of the least-advantaged members of society?  

A. Difference principle

B. The tragedy of the global commons

C. The theory of private equity

D. Unity of command

E. Laws of equivalent trade

118.John Rawls argues that inequality in basic social goods is to be allowed only if:  

A. such inequalities benefit everyone.

B. a country adopts a totalitarian government system.

C. a nation opposes market-based economies and free trade.

D. a country ranks high on the Human Development Index.

E. a country is facing a balance of payment crisis.

119.The primary purpose for which managers use a moral compass is to:  

A. help them navigate through difficult ethical dilemmas.

B. maximize stockholders’ wealth.

C. legally justify their unethical behavior.

D. identify new markets that have the best growth potential.

E. establish political imperialism in host countries.

120.Businesses can make sure that they are hiring individuals with strong personal ethics by:  

A. employing only those people who have very high intelligence quotient.

B. administering simple tests that indicate analytical skills of a prospective employee.

C. asking for letters of references from the prospective employees.

D. hiring only those people who are relatives of current employees.

E. spying on prospective employees.

111.Justice theories primarily focus on:  

A. minimizing the amount of political liberty permitted to each person.

B. the attainment of fair and equitable distribution of economic goods and services.

C. the attainment of maximum business profits.

D. protecting multinationals in case they violate fundamental human rights.

E. minimizing the amount of economic freedom permitted to each person.

112.According to _____, all economic goods and services should be distributed equally except when an unequal distribution would work to everyone's advantage.  

A. John Rawls

B. Leon Sullivan

C. Garrett Hardin

D. Milton Friedman

E. Carol Gilligan

113.The veil of ignorance, a conceptual device designed by John Rawls, supports:  

A. impartiality in justice.

B. oppression of people by totalitarian governments.

C. economic suppression of people.

D. apartheid laws.

E. cultural relativism.

114.According to the concept of _____, developed by John Rawls, everyone is imagined to be oblivious to all of his or her particular characteristics, such as, race, sex, intelligence, nationality, family background, and special talents.  

A. tragedy of the commons

B. naive immoralism

C. Universal Declaration of Human Rights

D. veil of ignorance

E. difference principle

115.Under John Rawls' concept of veil of ignorance, people are imagined to be ignorant of their:  

A. fundamental duties.

B. fundamental rights.

C. particular characteristics such as race, sex, and nationality.

D. political and economic freedom.

E. social responsibilities.

116.According to Rawls, which of the following principles would be unanimously accepted by people under the veil of ignorance?  

A. People should be discriminated on the basis of cast and class.

B. Inequalities in income and wealth distribution should not be justified under any condition.

C. The political and economic freedom of people should be highly restricted in order to promote collective goals.

D. Each person should be permitted the maximum amount of basic liberty that is compatible with a similar liberty for others.

E. All the properties should be owned by the government and people should not have the freedom or right to hold personal property.

117.Which of the following terms, developed Rawls, indicates that inequalities are justified if they benefit the position of the least-advantaged members of society?  

A. Difference principle

B. The tragedy of the global commons

C. The theory of private equity

D. Unity of command

E. Laws of equivalent trade

118.John Rawls argues that inequality in basic social goods is to be allowed only if:  

A. such inequalities benefit everyone.

B. a country adopts a totalitarian government system.

C. a nation opposes market-based economies and free trade.

D. a country ranks high on the Human Development Index.

E. a country is facing a balance of payment crisis.

119.The primary purpose for which managers use a moral compass is to:  

A. help them navigate through difficult ethical dilemmas.

B. maximize stockholders’ wealth.

C. legally justify their unethical behavior.

D. identify new markets that have the best growth potential.

E. establish political imperialism in host countries.

120.Businesses can make sure that they are hiring individuals with strong personal ethics by:  

A. employing only those people who have very high intelligence quotient.

B. administering simple tests that indicate analytical skills of a prospective employee.

C. asking for letters of references from the prospective employees.

D. hiring only those people who are relatives of current employees.

E. spying on prospective employees.

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