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Macro Ch.11 - ECON 100 Study Guide with Complete Solutions

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Macro Ch.11 - ECON 100 Study Guide with Complete Solutions

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TITLE: EMILLYCHARLOTTE 2024/2025 ACADEMIC PERIOD
OWNER: EMILLYCHARLOTTE
COPYRIGHT STATEMENT: ©2024 EMILLYCHARLOTTE. ALL RIGHTS RESERVED
FIRST PUBLISHED: SEPTEMBER 2024

Macro Ch.11 - ECON 100 Study Guide
with Complete Solutions


Money is any commodity or token that ________. - Answer✔️✔️-is generally accepted as

a means of payment

Keeping $20 in currency to be able to buy gasoline, money is performing which

function? - Answer✔️✔️-store of value

M1 is defined as a measure of money including, in part, ________. - Answer✔️✔️-

checkable deposits and currency

A commercial bank's reserves are ________. - Answer✔️✔️-currency in its vault plus the

balance on its reserve account at a Federal Reserve Bank

Conducting the nation's monetary policy is the duty of the ________. - Answer✔️✔️-

Federal Reserve System

The main policy making body of the Federal Reserve System is the ________. -

Answer✔️✔️-Federal Open Market Committee

The Fed influences the interest rate by using which of the following tools?



i. open market operations

ii. taxes on bank accounts

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