课程名称：货币银行学 课程性质： 课程范围：ch12~ch16、ch19 开课教师：林馨怡 开课学院：经济系 开课系级：选修 考试日期(年月日)：2008/4/24 考试时限(Mins)：2 hr 试题本文： I. 单选题(45%) (先打单选题 剩下55%问答题之後再补充) 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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